DTN Closing Cotton            11/06 13:36

   Cotton Bumps Along Harvest Floor 

   Cotton prices fluctuate ahead of USDA reports, harvest progress and tariff 
talks.

Keith Brown
DTN Contributing Cotton Analyst

   Cotton prices swung both positive and negative, times over, Friday as 
traders continue to monitor various market fundamentals. An obvious one is 
harvest, which ought to be entering its latter stages. However, there remain 
concerns over the U.S. Dollar, interest rates, and continued fallout from the 
U.S. Midterms. 

   Friday afternoon, the Commodity Futures Trading Commission (CFTC) will 
update its Commitments of Traders report (COT) data. Last week saw the managed 
funds sell 10,000-plus positions, reducing their net-long carry of 56,190 
contracts. 

   This Monday, USDA will release its weekly Crop Progress report. Last week's 
numbers revealed that 63% of the national crop had been harvested. The 
four-year average is 54%. Texas was 61% harvested versus her five-year average 
of 46% complete. 

   Next Tuesday at 12 p.m. EST, USDA will also issue its monthly supply-demand 
updates. Last month, the agency increased U.S. production to 13.44 million 
bales. 

   China says it remains open to buying more U.S. farm goods, but only if the 
two sides implement a reciprocal tariff-cut agreement. That statement came from 
China Commerce Ministry late Thursday. No doubt Beijing is playing off Trump's 
midterm defeat. 

   For Friday, December closed at 79.11 cents, up 40 points, March 2027 
finished at 82.79 cents, plus 24 points, and July 2027 settled at 84.75 cents, 
26 points higher. Friday's estimated volume was 90,780 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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