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DTN Closing Cotton 06/22 13:34
Cotton Waffles Lower Monday
The cotton market lost its early upside momentum to close slightly lower on
the day.
Keith Brown
DTN Contributing Cotton Analyst
The cotton market lost its early upside momentum to close slightly lower on
the day. Volume was off, as traders were watching the initial results of the
U.S.-Iran peace talks. In addition, traders are also awaiting this afternoon's
CFTC update and USDA's Crop Progress report. Overarching all concerns is
Tuesday, June 30, Planted Acres report.
The CFTC's Commitment of Traders update will be released today at 3:30 p.m.
EDT. The report was delayed a day due to the federal observance of the
Juneteenth holiday.
USDA will issue its weekly Crop Progress report today at 4 p.m. EDT. Last
week saw the planting pace of the 2026 crop at 86%, with an overall rating of
53% good to excellent.
Crude oil was lower today after the U.S. Treasury Department allowed Iranian
crude sales through August. The US issued Iran a 60-day license which
authorizes the production, delivery and sale of Iranian oil. The authorization
comes after Vice President JD Vance said the U.S. and Iran made great progress
in the current peace talks being held over in Switzerland.
On June 30, USDA will issue its Planted Acres report. Some analysts are
expecting greater 2026 acres due to the spring rally to 88.00 cents. Also worth
noting is the March Intentions numbers were higher than expected.
For Monday, July closed at 75.21 cents, off 84 points; December closed at
79.41 cents, minus 26 points; and March 2027 finished at 80.77 cents, down 28
points. Monday's estimated volume was 46,690 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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