Cotton #2 Oct '26 (CTV26)
Cotton #2 Futures Market News and Commentary
Cotton prices are down 19 to 28 points so far on Wednesday morning trade. Futures closed with contracts 99 to 299 points higher, with some contracts hitting the three cent limit at the high. The outside markets were mixed, as Crude oil was up $3.65 following Iran striking vessels in the Strait of Hormuz overnight. The US responded by revoking waivers authorizing Iran oil exports. The US dollar index was up $0.230.
Monday afternoon’s Crop Progress showed 49% of the US cotton crop squared as of Sunday, 2% ahead of normal. The crop was also 14% setting bolls, matching the 5-year average pace. Condition ratings were pegged at 46% good/excellent, down 2 percentage points on the week. The Brugler500 index was down 3 points to 332. Ratings in TX were down 2 points, with GA up 3.
Monthly trade data from Census showed 1.46 million bales of exports during May, which was 15.3% above a year ago and a 3-year high, but down 6.88% from a year ago.Â
The Seam reported 182 bales sol... Read more
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