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DTN Closing Cotton 04/16 13:30
Cotton Market Closes Substantially Higher Thursday
The cotton market sloughed off disappointing export sales and its emerging
overbought condition to close substantially higher.
Keith Brown
DTN Contributing Cotton Analyst
The cotton market sloughed off disappointing export sales and its emerging
overbought condition to close substantially higher. Apparently, the gathering
fundamentals of adverse growing conditions, the deepening drought, high-priced
fuels and fertilizers, and emerging fund money are overriding all other
influences.
Highlights from today's weekly export sales report include net sales of
161,101 bales for the 2025/26 marketing year and 26,863 for 2026/27, for a
total of 187,964. This was down from 333,631 the previous week. Cumulative
sales have reached 92% of USDA's forecast versus a five-year average of 101%
for this point in the marketing year. Shipments totaled 305,029 bales, down
from 342,744 the previous week.
On Friday, the CFTC will update its weekly Commitment of Traders
information. Last week, the managed-money funds were pegged slightly net-short
by a mere 2,020 contracts. The update will be released at 3:30p.m. EDT.
First notice day for the May contract is April 24. Its delivery period runs
through May 6.
For Thursday, July closed at 78.13 cents, up 71 points; December 2026 closed
at 78.99 cents, plus 64 points; and March 2027 finished at 79.81 cents, 62
points lower. Thursday's estimated volume was 73,283 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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