DTN Morning Cotton Commentary

On the first day of autumn, the cotton market remains quietly negative. Traders are disappointed with the lack of progress with China and are now bracing for the unfolding 2025 harvest across the Northern Hemisphere.

Last Friday, the CFTC updated its Commitments of Traders information. The numbers show that the managed-money funds bought in some 9,844 positions, reducing their net-short carry to 59,061 contracts. However, still the market did not significantly rally. 

Monday at 4 .p.m., USDA will release its weekly crop progress report. Last week saw the condition of the crop ease back to 52% good to excellent versus its previous 54%. The five-year average for this time of the season is 39% good to excellent.

Cumulative sales for 2025-26 have reached 35% of the USDA forecast for the entire marketing year versus a 5-year average of 52% for this point in the season.

Delivery for the October cotton starts on Wednesday, Sept. 24. Its notice period will run through Oct. 9.

Daily chart support for December cotton stands at 66.00 cents and 65.50 ents, with resistance at 66,70 and 67,00. This morning’s estimated volume is 8,540 contracts.

Keith Brown can be reached at commodityconsults@gmail.comor by calling (229) 890-7780.