DTN Closing Cotton            02/11 13:31

   Cotton Market Finishes Higher Wednesday

   The cotton market finished somewhat higher today, despite the continued 
negativity of its bearish trend and the February WASDE. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market finished somewhat higher today, despite the continued 
negativity of its bearish trend and the February WASDE. Traders will now look 
to exports, NCC acres, CFTC data, and developing weather for guidance.

   Today's U.S. payrolls for January were stronger than expected. Estimates 
were calling for 70,000-80,000 new jobs, but the actual number was 130,000 
jobs. Also, the unemployment rate fell to 4.3% from 4.4%.

   On Thursday, the NCC will release its 2026 acres survey. Although not an 
official government report, nonetheless, it will be the first fundamental look 
at the potential for 2026. Last year's survey showed intentions of 9.6 million 
cotton acres, down 14.5% from 2024.

   Also Thursday, USDA will issue its weekly exports data. Last week saw sales 
of 250,000, up 25% weekly, and shipments of 235,000 bales, off 9% weekly, but 
up 25% on the four-week pace.

   This Friday at 3:30 p.m. EST, the CFTC will update its Commitment of Trader 
data. Last week, the managed-money funds sold some 6,700 positions, swelling 
their net-short position to 71,700 contracts. The record is 81,000-plus, which 
might be challenged in this report.

   Crude oil gained about 2% today, amid the tensions between the U.S. and Iran 
escalating, while draws of crude from key stockpiles suggested stronger demand. 
Also, President Donald Trump said Tuesday he was considering sending a second 
aircraft carrier group to the Middle East.

   For the ICE market Wednesday, July was 65.69 cents, up 21 points; December 
2026 closed at 68.20 cents, plus 11 points; and March 2027 finished at 69.19 
cents, 17 points higher. Wednesday's estimated volume was 118,566 contracts.

   Keith Brown can be reached at [email protected]




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