Cotton futures advanced Monday, with front-month contracts gaining 112 to 138 points and deferred months climbing 48 to 99 points. Outside markets remained subdued, as crude oil slipped 9 cents while the U.S. dollar index edged up 0.004 points.
The USDA’s Monday afternoon Crop Progress report showed 49% of the U.S. cotton crop had squared as of Sunday, 2 percentage points ahead of the normal pace. Boll-setting progress reached 14%, aligning with the five-year average. However, crop conditions deteriorated, with the good-to-excellent rating falling 2 points to 46%. The Brugler500 index declined 3 points to 332.
Managed money reduced its net long position in cotton futures and options by 6,460 contracts during the week ended June 30, bringing the total to 31,985 contracts.
The Cotlook A Index decreased 75 points on July 3 to 85.80 cents. ICE-certified cotton stocks held steady Thursday at 185,034 bales, while the Adjusted World Price dropped 194 points to 61.94 cents per pound.
Key contract settlements:
- July 2026 Cotton: 73.95 cents, up 138 points
- December 2026 Cotton: 78.30 cents, up 118 points
- March 2027 Cotton: 79.72 cents, up 120 points
