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DTN Closing Cotton 06/08 13:43
Cotton Market Steadies as Traders Await Key Data
After its bearish drop last Friday, the cotton market kept somewhat steady
today, awaiting the next influence to emerge.
Keith Brown
DTN Contributing Cotton Analyst
After its bearish drop last Friday, the cotton market kept somewhat steady
today, awaiting the next influence to emerge. New-crop December found support
toward the lower side of its 77.90-77.20 cent retracement support box. As the
week unfolds, traders will be assessing crop progress data, export sales
numbers, the June WASDE tables and the next CFTC update.
This afternoon at 4 p.m. EDT, USDA will present its crop progress report.
Last week saw the 2026 crop some 66% planted. That pace was right on the heels
of the five-year average of 67%.
Option expiration for the July contract is Friday, June 12, while the Spot
July contract commences delivery on June 24 and runs through July 9.
This Thursday, USDA will issue weekly export sales at 8:30 a.m. EDT. Last
week's business saw sales of 185,268 bales for the current marketing year and
77,145 for 2026/27 for a total of 262,413. The prior combined season sales were
265,663 bales, with the four-week moving average running around 216,000.
Also on Thursday, at 12 p.m. EDT, USDA will issue the June WASDE. Last
month, government tabulators projected the 2026/2027 crop to be 13.30 million
bales, with a domestic carryout of 3.90 million, and a global supply of 275.05
million bales. We also note that the official Planted Acres report will be
released on June 30.
For Monday, July closed at 73.39 cents, down 36 points; December closed at
77.61 cents, plus 13 points; and March 2027 finished at 78.87 cents, 7 points
higher. Monday's estimated volume was 106,245 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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