DTN Closing Cotton            07/06 13:45

   Cotton Market Stays Strong

   The cotton market maintained its triple-digit gains Monday. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market maintained its triple-digit gains Monday. Prevailing hot 
and dry conditions across large swaths of the U.S. Cotton Belt were the main 
drivers keeping a bid under the market. There are also concerns for India as 
well, since it's currently under the spell of an El Nino pattern.

   The CFTC will release a delayed Commitment of Traders update at 3:30 p.m. 
EDT today. Last week, the managed-money funds bought some 3,300 positions, 
increasing their net-long carry to 38,400-plus contracts.

   Later this afternoon, USDA will update its Crop Progress report. The 2026 
crop is some 99% planted, but of late, the good-to-excellent conditions have 
been slipping. Two weeks ago, the crop was 53% good to excellent, but that 
tally gave way to 48% last week. The numbers will be out at 4 p.m. EDT.

   Also this week, traders will see new export sales data on Thursday, followed 
up by a supply-demand update on Friday. The July WASDE will be released at noon 
EDT.

   Spot July remains in delivery, however Monday, there were 56 notices but 
largely there were re-tenders among original stoppers. To date, there have been 
601 contracts delivered. The delivery period runs through July 9.

   For Monday, July closed at 73.95 cents, up 138 points; December closed at 
78.30 cents, plus 118 points; and March 2027 finished at 79.72 cents, up 120 
points. Monday's estimated volume was 36,904 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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