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DTN Closing Cotton 03/09 13:34
Cotton Holds Higher
Despite the day's massive volatility swings in the energies, metals, and
grains, somehow cotton quietly stayed aloft.
Keith Brown
DTN Contributing Cotton Analyst
Despite the day's massive volatility swings in the energies, metals, and
grains, somehow cotton quietly stayed aloft. Traders may be hoping that
Tuesday's supply-demand update might reveal less production and thus less
carryout. Also, if -- and that is if -- the Middle East calms, then the U.S.
dollar could reset lower.
Spot March cotton expired Monday at 63.59 cents. In total, the contract saw
a total of 630 delivery notices tendered against it.
Tuesday at noon EDT, USDA will release its updated supply-demand tables via
the March WASDE. Average trade estimates for 2025/26 U.S. cotton production
stand at 13.90 million bales, slightly down from the 13.92 million reported in
February. Exports are expected at 11.97 million bales versus 12.00 million in
February, and ending stocks are expected to be at 4.36 million bales compared
to the previous 4.40 million bales. World 2025/26 production is expected at
119.80 million bales, versus the 119.86 million in February. Consumption looks
to be 118.75 million versus 118.72, and ending stocks are projected at 74.80
million bales versus 75.11 in the February update.
This Thursday, USDA will issue its weekly export sales report. Last week's
current seasonal sales were 150,000 bales, off 41%. However, weekly shipments
of 282,000 bales constituted a marketing-year high pace. The data will be out
at 8:30 a.m. EDT.
For Monday, July closed at 66.57 cents, up 41 points; December 2026 closed
at 69.33 cents, plus 46 points; and March 2027 finished at 70.28 cents, 46
points higher. Monday's estimated volume was 68,862 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
(c) Copyright 2026 DTN, LLC. All rights reserved.
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