ICE cotton futures jump 115–120 points in early Monday trade
AI Market Summary
ICE cotton futures extended gains into Monday's session, with prices rising ~115–120 points after a strong prior week. The market absorbed USDA WASDE's higher new-crop production estimate, suggesting bullish positioning and tightening deliverable supply are dominating macro headwinds. CFTC data show managed money increased net longs, while ICE certified stocks fell sharply via decertification, reinforcing near-term supportive fundamentals.
Impact level
● Medium
Affected assets
NCCOCOTTON2USD/USDT-0.01%
AI Insight · NCCOCOTTON2USD/USDTAI Insight
▲ Bullish
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ICE cotton futures surged in early Monday trading, with the front contracts up 115–120 points. The market added 45–99 points on Friday, and the December contract finished the week up 442 points. The USDA WASDE lifted new-crop production to 13.7 million bales, but traders had already priced in the larger NASS acreage data. CFTC data show managed money increased net longs by 7,121 contracts to 39,106 for the week ending Tuesday, while ICE certified stocks fell 26,320 bales on July 9 to 158,607 bales.
