DTN Closing Cotton            05/08 13:33

   Cotton Moves Lower Thursday

   Amid poor export sales, a stronger U.S. dollar, and U.S.-China trade 
anxieties, the cotton market was materially lower Thursday.

Keith Brown
DTN Contributing Cotton Analyst

   Amid poor export sales, a stronger U.S. dollar, and U.S.-China trade 
anxieties, the cotton market was materially lower Thursday. In addition, heavy 
technical selling was evident across many of the surrounding markets.

   This Friday, the CFTC will update its Commitments of Traders information. 
For several weeks now, the once-record-short managed-money funds have been 
paring their massive position. Last week, they stood at 26,000 plus or minus 
contracts net short. That report is out at 3:30 p.m. EDT.

   Monday, USDA will issue its supply-demand update via the May WASDE. Despite 
the fact that official 2025 acres have yet to be announced, the tabulators will 
present both a yield and crop amounts. That report is out at noon, eastern.

   Also on Monday, USDA will update its crop progress numbers. Last week's 
number showed the 2025 crop at 21% planted. The five-year average for that date 
is 20% complete. The numbers are out at 4 p.m. EDT.

   The 6- to 10-day weather outlook calls for above-normal temperatures for 
Texas, moderately above for the Delta, and normal for the Southeast. Rain-wise, 
Texas should experience normal chances, the U.S. Delta should see below-normal 
odds, while the Southeast will likely have normal to slightly-above normal 
opportunities.

   For Thursday, July cotton ended at 66.69 cents, minus 69 points, and 
December finished at 68.75 cents, 50 points lower. Thursday's estimated volume 
was 41,425 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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