DTN Closing Cotton            03/17 13:30

   Cotton Market Closes Higher Again Tuesday

   The cotton market closed higher again today, making eight out of the last 
nine sessions positive. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market closed higher again today, making eight out of the last 
nine sessions positive. Traders have heightened concerns over weather, input 
costs (fuels and fertilizers), the U.S. dollar and export demand. Thus, there 
has been a re-positioning among hedgers and speculators since late February.

   As previously noted, the Trump/Xi meeting has been delayed by at least a 
month. President Trump said Monday that the U.S. has asked for a delay due to 
the ongoing war with Iran. Trump had expected to travel to China at the end of 
March for the meeting with Xi.

   The Climate Prediction Center revealed that 88% of the U.S. cotton planted 
area is suffering from some sort of drought. The current 6- to 10-day outlook 
has below to much-below chances for rain for the entirety of the Cotton Belt, 
as well as above to much-above temperatures.

   This week, traders will see various economic reports and events, including 
housing starts, the meeting of the Federal Reserve today and Wednesday, and 
weekly export sales.

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

   Crude oil prices remain stout as there are growing doubts that President 
Trump can organize a meaningful escort coalition for tankers through the Strait 
of Hormuz. Brent oil, the international benchmark, was up $2.35 to $102.56 per 
barrel. Trump said in a social media post that U.S. and NATO allies do not want 
to participate in the U.S. war against Iran.

   For Tuesday, July closed at 70.75 cents, up 69 points; December 2026 closed 
at 72.65 cents, plus 67 points; and March 2027 finished at 73.49 cents, 62 
points higher. Tuesday's estimated volume was 128,212 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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