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DTN Closing Cotton 03/04 13:30
Cotton Steadies Up
Under the growing impression that the U.S. and Israel-Iran conflict is
positively subsiding, many markets are seeing deflated emotional trading.
Keith Brown
DTN Contributing Cotton Analyst
Under the growing impression that the U.S. and Israel-Iran conflict is
positively subsiding, many markets are seeing deflated emotional trading. Thus,
gold is calmer, the Dow Jones is recovering higher, while crude oil and the
U.S. dollar are moderately retreating. In summary, the cotton market appears to
be trading its own fundamentals relating to supply and demand.
Thursday, USDA will issue its weekly export sales report. Last week saw net
sales of 253,000 bales, off 46% with shipments of 193,000 bales, a 12%
increase. The numbers are out at 8:30 a.m. EST.
Spot March cotton saw zero delivery notices today. Thus far, some 600
delivery tenders have been issued. The delivery period runs through Monday,
March 9.
On Friday, the Labor Department will issue new jobs numbers. Last month saw
total nonfarm payroll employment increase by 130,000 in January 2026, after
changing little in 2025 (+15,000 per month on average). Job gains occurred in
health care, social assistance, and construction, while federal government and
financial activities lost jobs in January.
Also on Friday, the CFTC will update its Commitment of Traders data. Last
week, the managed-money funds had bought in some 14,140 positions, reducing
their net-short carry to 65,368. For context, their record beamish position
stands at 81,358 contracts
For Wednesday, July closed at 66.10 cents, up 15 points; December 2026
closed at 68.69 cents, plus 18 points; and March 2027 finished at 69.67 cents,
18 points higher. Wednesday's estimated volume was 63,109 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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