Cotton futures extend gains Tuesday as July rises 138 points to 73.95 cents/lb
AI Market Summary
US cotton futures extended gains Tuesday, supported by a weaker crop condition profile: good/excellent ratings fell to 46% and Texas ratings deteriorated despite normal-to-ahead development. Managed money reduced net longs, suggesting positioning is less crowded even as prices rise. Certified ICE stocks were unchanged, offering no immediate supply relief. Mixed macro inputs (firmer crude and USD) imply the move is primarily crop-driven.
Impact level
● Medium
Affected assets
NCCOCOTTON2USD/USDT+2.42%
AI Insight · NCCOCOTTON2USD/USDTAI Insight
▲ Bullish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
U.S. cotton futures extended their rally Tuesday, with the July contract up 138 points to 73.95 cents per pound and December up 245 points to 80.75 cents per pound. Crop Progress data showed the boll-setting pace matched the five-year average, while the good/excellent rating slipped to 46%, down 2 percentage points from last week. Managed money cut net long positions by 6,460 contracts to 31,985, and ICE certified stocks were unchanged at 185,034 bales.
