Cotton futures jump 74–76 points in early Wednesday trading
AI Market Summary
Cotton futures strengthened into early Wednesday, extending late-June gains despite USDA acreage at 9.85m acres topping expectations. Near-term support is tied to weakening crop conditions (good/excellent down to 48%) and a notable ratings deterioration in Texas, which can tighten effective supply. Certified ICE stocks were flat and the Cotlook A index eased, but futures price action suggests the market is prioritizing weather and condition risk.
Impact level
● Medium
Affected assets
NCCOCOTTON2USD/USDT+0.87%
AI Insight · NCCOCOTTON2USD/USDTAI Insight
▲ Bullish
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Cotton futures surged early Wednesday morning, with the most-active contract up 74–76 points. Prices held firm even after the USDA reported U.S. cotton planted area at 9.85 million acres, above market expectations of 9.6 million. Crop progress data showed 37% of the crop had squared and 9% was setting bolls, while the good/excellent rating slipped to 48% with a notable drop in Texas. ICE certified stocks were steady at 185,034 bales, and the Cotlook A Index eased to 85.30 cents/lb.
