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DTN Closing Cotton 03/23 13:32
Cotton Trades Headline to Headline
The cotton market was slightly weaker today amid all the two-sided news
stemming from the U.S. and Israel-Iran conflict.
Keith Brown
DTN Contributing Cotton Analyst
The cotton market was slightly weaker today amid all the two-sided news
stemming from the U.S. and Israel-Iran conflict. The White House says Iran is
wanting to make a deal, while Iran says it hasn't even talked to the U.S. Thus,
the cotton market maintained something of a balancing act.
This Thursday, USDA will update its weekly export sales data. Last week's
business saw combined seasonal sales of 320,000 bales, with shipments at
273,000, off 26% weekly.
USDA will issue its Planting Intentions report on March 31 at noon EDT. This
will be the first official look at 2026 acres.
The Climate Prediction Center holds that 89% of the U.S. cotton planted area
is suffering from some degree of drought. The 6- to 10-day forecast shows above
to much above-normal temperatures for the length of the U.S. Cotton Belt. Rain
wise, Texas looks to have slightly above normal precipitation, but the Delta
and the Southeast indicate below-normal chances.
For Monday, July closed at 69.31 cents, down 2 points; December 2026 closed
at 71.84 cents, minus 12 points; and March 2027 finished at 72.94 cents, 4
points lower. Monday's estimated volume was 68,955 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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