DTN Closing Cotton            09/12 13:30

   Cotton Sits Still

   The cotton market was essentially unmoved today despite supply-demand 
numbers that were deemed supportive. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market was essentially unmoved today despite supply-demand 
numbers that were deemed supportive. Traders will now move on to this 
afternoon's CFTC report, and then on into next week.

   USDA's September WASDE was slightly friendly, as U.S. production and ending 
stocks were both below expectations. Domestic ending stocks were steady with 
last month, and world carryout was off some 80,000 bales.

   Also, today at 3:30 p.m. EDT, the CFTC will update its Commitment of Traders 
data. Last week saw the managed-money funds sell-short an additional 6,438 
positions, swelling their overall net short carry to 66,000-plus contracts. 
Their record short position is shy of 80,000 contracts.

   Traders are now gearing up for the Fed's interest rate decision next week on 
Sept. 17. The financial markets are pricing in a quarter percentage point cut 
with near certainty, although there are some looking for a half-point cut.

   There are reports that top U.S. and Chinese negotiators have been in 
contact, possibly laying the groundwork for an in-person meeting between Trump 
and Xi. President Trump will be attending the Asia-Pacific Economic Conference 
in Seoul, South Korea in late October.

   For Friday, December 2025 ended at 66.83 cents, up 11 points; while March 
2026 settled at 68.75 cents, plus 12 points. Friday's estimated volume was 
25,750 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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