DTN Closing Cotton            03/13 13:33

   Cotton Closes Above 70 Cents for the First Time Since December 2024

   Despite the unfounded superstitions which surround Friday the 13th, it was a 
good day for the cotton market. 

Keith Brown
DTN Contributing Cotton Analyst

   Despite the unfounded superstitions which surround Friday the 13th, it was a 
good day for the cotton market. December cotton closed above the 70-cent mark 
for the first time since Dec. 27, 2024. Traders are eyeing the positive 
possibilities of poor growing conditions, reduced acres, higher input costs, 
questionable South American crops and renewed Chinese trade.

   Treasury Secretary Scott Bessent, along with USTR Greer, will be meeting 
Chinese Vice Premier He Lifeng in Paris this weekend, as the two sides prepare 
for the big Trump/Xi meeting toward the end of March. The U.S. and China will 
try to settle certain trade differences and expectations between the two 
dominant economies.

   USDA will issue its Planting Intentions report on March 31. This will be the 
first official look at 2026 acres. The survey is conducted in the first two 
weeks of March.

   Today at 3:30 p.m. EDT, the CFTC will update its Commitment of Traders data. 
Last week, the managed-money funds net sold some 7,500 positions, increasing 
their net-short carry to 73,973 contracts. For context, their record bearish 
position stands at 81,358 contracts.

   The Climate Prediction Center reported that 88% of the U.S. cotton planted 
area is suffering from some sort of drought. We think that is a record level 
this early in the season.

   The U.S. dollar was higher today as the war in the Middle East continues to 
drive traders toward the Greenback's safe-haven status. President Donald Trump 
said the U.S. was going to be hitting Iran "very hard over the next week."

   For Friday, July closed at 67.89 cents, up 74 points; December 2026 closed 
at 70.33 cents, plus 46 points; and March 2027 finished at 71.25 cents, 40 
points higher. Friday's estimated volume was 76,739 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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