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DTN Closing Cotton 12/15 13:35
Cotton Defies Bearish Odds
The cotton market managed a positive close today, despite all other markets'
negative behavior.
Keith Brown
DTN Contributing Cotton Analyst
The cotton market managed a positive close today, despite all other markets'
negative behavior. The financials, metals and the grains markets were
collectively lower today.
The CFTC published its latest Commitment of Traders Report last Friday. Its
data showed that the managed-money funds bought 2,086 contracts, reducing their
net-short position to 58,243 contracts. There will be other catch-up releases
this week.
USDA issued a catch-up export sales report today, covering the time period
of Nov. 20. Net sales for the 2025/2026 season were 148,000 bales, with Vietnam
as the top buyer at 46,700 bales. For the 2026/2027 season, sales were 3,100
bales. Shipments were 120,800 bales.
China reported disappointing economic news today. Her retail sales were much
weaker than expected. China's factory output growth slowed to a 15-month low,
while the aforementioned retail sales posted their worst performance since the
country abruptly ended its "zero-COVID" curbs. China has recently pledged to
keep expanding domestic demand and to broaden her economy during 2026.
For Monday, March 2026 went out at 63.94 cents, plus 11 points; July was
66.10 cents, up 16 points; and December 2026 halted at 67.69 cents, up 16
points higher. Monday's estimated volume was 28,211 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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