DTN Closing Cotton            06/29 13:39

   Cotton Market on Pins and Needles

   After a strong bullish start to its early Monday session, the cotton market 
devolved into a small, tedious trade today.

Keith Brown
DTN Contributing Cotton Analyst

   After a strong bullish start to its early Monday session, the cotton market 
devolved into a small, tedious trade today. No doubt, traders were prepping and 
pumping themselves for Tuesday's acres report. In addition, there are others 
releases yet to be seen before the July 4th holiday arrives.

   This afternoon, USDA will issue its crop progress data. Last week saw the 
2026 crop at 92% planted, with an overall good-to-excellent rating of 53%. That 
report is out at 4 p.m.

   Tuesday, USDA will release its Planted Acres report. The average industry 
estimate stands at 9.63 million acres against the previous March Intentions of 
9.60 million, and versus the National Cotton Council's membership survey of 9.0 
million acres. The data will be out at noon EDT.

   On Thursday, traders will see fresh export sales numbers from USDA. Last 
week, the current crop sales were 83,000 bales, off 53%, while shipments were 
some 300,000 bales, up 20%.

   With the observance of the Fourth of July, America's 250th, this Friday, the 
Labor Department will release its monthly jobs report on Thursday. Last month 
saw a job tally of 172,000, with an unemployment rate of 4.4%. Expectations for 
this week are 113,000 new non-farm jobs.

   We also note that the ICE futures will see a delayed opening post-250th 
holiday. The market commences trading at 7 a.m. EDT next Monday.

   For Monday, July closed at 72.00 cents, up 34 points; December closed at 
76.45 cents, plus 7 points; and March 2027 finished at 77.80 cents, up 6 
points. Monday's estimated volume was 29,040 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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