DTN Closing Cotton            02/25 13:33

   Cotton Market Touches 70-Cent Mark

   The cotton market notched another higher close today, with new-crop December 
touching the 70-cent mark. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market notched another higher close today, with new-crop December 
touching the 70-cent mark. The last time this particular contract traded at the 
70-cent level was July 2025. Traders will now assess March's delivery, weekly 
exports and the CFTC update for possible price influences.

   Overnight, Spot March cotton was hit with 462 notices. It was one of the 
largest issuances in recent memory. BNP (448) and Term (18) were the issues, 
with JP Morgan (230) and SG Americas (231) as the stoppers. The delivery period 
runs through Monday, March 7.

   Thursday, USDA will release its weekly export sales report. Last week saw a 
combined seasonal sales number of 335,663 bales, for which the old crop was a 
marketing-year-high amount. Weekly shipments were 172,600 bales, off 9% from 
the previous week.

   On Friday at 3:30 p.m. EST, the CFTC will issue another Commitment of 
Traders report. This past week showed that the managed-money funds had net sold 
some 3,900 contracts, swelling their current bearish position to 79,508 
contracts. For context, their record high negative carry from last October 
stands at 81,343 contracts.

   Next Monday commences a fresh trading month replete with undated 
supply-demand tables via the March WASDE, and the all-impactful 2026 planting 
intentions from USDA. That latter report falls on March 31.

   For Wednesday, July closed at 67.80 cents, up 61 points; December 2026 
closed at 69.92 cents, plus 54 points; and March 2027 finished at 70.83 cents, 
55 points higher. Wednesday's estimated volume was 73,030 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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