Cotton Falling on Monday with Larger Acreage Number

Austin Schroeder Barchart Mon Jun 30, 11:54AM CDT
Harvesting cotton field by Leila Melhado via iStock

Cotton futures are showing weakness on Monday, with a larger than expected acreage number reported by the USDA. Contracts are down 110 to 139 points at midday with in delivery July up 45 points. Crude oil is down $0.58/barrel, with the US dollar index $0.376 lower

The Friday afternoon Commitment of Traders report showed cotton spec traders trimming back 2,946 contracts from their net short position as of Tuesday to 48,085 contracts by June 24th.

This morning’s Acreage report from USDA showed 10.12 million cotton acres planted this spring, above trade ideas of 9.735 million and the 9.867 million acre March Intentions number. 

The Seam reported 3,134 bales sold in the Friday online auction at an average price of 65.21 cents. The Cotlook A Index was up 50 points on 6/27 at 79.65. ICE cotton stocks were down 6,385 on June 27 via decertification, with a certified stocks level of 45,110 bales. USDA’s Adjusted World Price (AWP) was up 15 points last Thursday at 54.18 cents/lb.

Jul 25 Cotton  is at 67.52, up 45 points,

Oct 25 Cotton  is at 67.7, down 110 points,

Dec 25 Cotton  is at 67.93, down 139 points


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.