DTN Closing Cotton            11/13 07:36

   Cotton Market Ticks Higher as Traders Await Key Data Releases

   Cotton futures edge higher as traders await export sales, COT data.

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market continued its seesaw action Thursday but did manage a 
slightly higher close. This week, the market has been "upended" by the 
Goldman-Sachs roll. However, that situation ends Friday, just as the market 
will see various holiday-delayed reports. 

   December Cotton's option expiration happens Friday. Based on a traders' 
current put or call position, assignments of futures contracts will happen at 5 
p.m. EST Also, the December Contract will enter its delivery period Nov. 23.

   Export sales are delayed until Friday due to the observance of Veterans Day. 
Highlights from last week's report had net sales of 277,522 bales for the 
2026/2027 marketing year. With that, cumulative sales have reached 51% of 
USDA's forecast versus a five-year average of 58% for this point in the 
marketing year. Shipments totaled 137,782 bales, which was a marketing-year low 
number.

   Also, the PPI (wholesale inflation) will be released Friday morning at 8:30 
a.m. EST. Currently estimates are calling for month/over/month PPI to be 0.4% 
versus the previous 1.3%, while the core is indicated to be 0.3% versus the 
prior 0.3%.

   Lastly, the Commodity Futures Trade Commission (CFTC) will update its 
Commitment of Traders (COT) data at 3:30 p.m. EST Friday. Last week saw the 
managed funds sold 3,042 positions, further reducing their net long carry to 
53,148 contracts.

   For Thursday, December closed at 78.67 cents, up 15 points, March 2027 
finished at 82.51 cents, plus 12 points, and July 2027 settled at 84.68 cents, 
17 points higher. Thursday's estimated volume was 95,828 contracts.

   Keith Brown can be reached at [email protected]




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