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DTN Closing Cotton 04/01 13:33
Cotton Boomerangs Back
After initially suffering triple-digit losses early in the session, the
cotton market snapped up to close higher.
Keith Brown
DTN Contributing Cotton Analyst
After initially suffering triple-digit losses early in the session, the
cotton market snapped up to close higher. Likely, with acres intentions now out
of the way, traders felt freer to focus on fuel, fertilizer, weather, and the
upcoming Trump/Xi meeting.
Wednesday evening, President Trump will address the nation concerning the
efforts and perhaps the ending of the conflict with Iran. Supposedly, in the
five-week war the U.S. has achieved or is near achieving the preset goals of a
"defanged" Iran.
Thursday at 8:30 a.m. EDT, USDA will issue its weekly exports sales report.
Previously, net combined seasonal sales were 230,000 bales, far below the
recent pace of 300,000-plus. However, exports were 400,600 bales, which was
another marketing-year high on shipments.
All U.S. markets will be closed this Friday for the Good Friday/Easter
holiday.
For Wednesday, July closed at 72.94 cents, up 81 points; December 2026
closed at 75.08 cents, plus 74 points; and March 2027 finished at 76.05 cents,
74 points higher. Wednesday's estimated volume was 112,590 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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