DTN Cotton Close 14-Sep-2021
Posted : October 23, 2021

DTN Cotton Close: Market Wobbles Higher

September 14, 2021

 

By Keith Brown, DTN Contributing Cotton Analyst

The cotton market was higher Tuesday, albeit on low volume. Such has been a true characterization of the market ever since its new August high was established, that is one of slow volume and tight ranges. However, conventional wisdom would suggest cotton’s immediate fundamentals, that is a large crop, huge net long speculators and the forthcoming harvest, are stacking bearish.

Tropical Storm Nicholas is raining out over the U.S. Delta and looks to scoot across the Southeast. These are two cotton-producing regions that no longer want any sort of rainfall. Still, USDA has pushed the overall good-to-excellent rating of the national crop higher in its weekly crop condition report.

In other weather news, the six- to 10- and the eight- to 14-day forecast nearly mimic each other. They each call for above-normal temperatures for Texas across to the Southeast. However, Texas looks to have below-normal rainfall, while the Delta and the Southeast should see above-normal rainfall.

For Tuesday, December settled at 93.66 cents, up 0.85 cent, March ended at 92.83 cents, up 0.87 cent and December 2022 ended at 83.07 cents, 0.81 cent higher; estimated volume was 18,959 contracts.

 

Latest News
DTN Cotton Close
  • Ends Fractionally Higher October 25, 2021 After a strong Sunday night surge, the cotton market o
ROSE ON COTTON
  • COTTON MARKET POSTS MODEST WEEKLY GAIN Oct 25, 2021 The ICE Dec cotton contract picked up 93 poi
Thompson on Cotton
  • Export Sales Receive Boost as China Returns to Market October 25, 2021 There was a lot of moveme