DTN Closing Cotton            07/09 13:29

   Cotton Puckers Up

   The cotton market managed a slightly higher close today, despite its recent 
"souring" fundamentals and technicals.

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market managed a slightly higher close today, despite its recent 
"souring" fundamentals and technicals. Apparently, some traders were 
positioning for several upcoming reports. In addition, there were circulating 
stories suggesting that a U.S./India trade deal was in hand, but its 
particulars are not ready to be yet disclosed.

   Spot July cotton expired today at 64.96 cents. Amazingly, its 
life-of-contract-high came on April 3, 2024, at 85.63 cents. Its contract low 
emerged on April 4, 2025, at 62.05 cents.

   Thursday at 8:30 a.m. EDT, USDA will release its weekly export sales data. 
Last week's business showed sales for the expiring old crop season were 23,700, 
while sales for the new crop were 106,000. Weekly shipments were 255,800 bales, 
up 39%.

   On Friday, USDA will update its supply-demand tables via the July WASDE. The 
agency will employ the numbers from its planted acres report for its latest 
balance sheet. The report will be out at noon EDT.

   Also on Friday, the CFTC will update its Commitment of Traders standing. 
Last week, the managed-money funds bought-in some 5,175 positions, reducing 
their net short carry to 42,910 contracts. That number will be out at 3:30 p.m.

   The 6- to 10-day weather outlook (July 14-18) shows most of west Texas with 
below-normal temperatures, while the Delta and the Southeast should see 
slightly above-normal readings. Rain-wise, Texas and the Southeast will 
experience above-normal precipitation, while the Delta looks to have only 
slightly-above normal chances.

   For Wednesday, December 2025 closed at 67.78 cents, up 40 points; while 
March 2026 settled at 69.14 cents, plus 39 points. Wednesday's estimated volume 
was 27,972 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




(c) Copyright 2025 DTN, LLC. All rights reserved.