Cotton futures rise 22–43 points despite USDA pegging planted area at 9.85 million acres
AI Market Summary
USDA\'s June acreage report showed US cotton plantings at 9.85m acres, above expectations, a supply-negative datapoint. However, futures rose as crop conditions deteriorated (good/excellent down to 48%, Texas sharply weaker) and limited spot market activity reinforced near-term tightness concerns. Despite softer crude and a slightly firmer dollar, price action suggests weather and yield risk are currently outweighing acreage-driven supply expectations.
Impact level
● Medium
Affected assets
NCCOCOTTON2USD/USDT+0.44%
AI Insight · NCCOCOTTON2USD/USDTAI Insight
● Neutral
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Cotton futures ended June higher, with contracts up 22 to 43 points even after the USDA put spring cotton plantings at 9.85 million acres, above trade ideas of 9.6 million and the March figure of 9.64 million. The July contract settled at 72.22 cents per pound. Crop Progress data showed 9% of fields setting bolls and conditions at 48% good/excellent, down 5 percentage points on the week, with Texas ratings falling 14 points. Crude oil slipped $0.82/bbl to $69.83 and the U.S. dollar index rose $0.118 to $100.995.
