DTN Closing Cotton            10/25 13:33

   Cotton Ends Fractionally Higher Monday

   After a strong Sunday night surge, the cotton market only managed to settle 
slightly up Monday.

Keith Brown
DTN Contributing Cotton Analyst

   After a strong Sunday night surge, the cotton market only managed to settle 
slightly up Monday. The market was aware of overnight Chinese buying, but also 
knew the global shipping crisis continues to hamper the global economy. Thus, 
future exports may continue to be lax. Traders also heard comments from 
President Xi at the UN that indirectly lambasted the United States. 

   Monday afternoon USDA will update the harvest progress. Of course, with 
harvest, weather is dramatically crucial. Currently, the immediate forecast has 
Texas with dry conditions, but indicates cooler and wetter conditions for the 
Delta and the Southeast.

   On Thursday, USDA will issue its weekly export sales. Of late, lagging sales 
have been doing a better job of playing catchup. However, on Thursday the 
Commerce Department will report third quarter GDP numbers. Currently, analysts 
suggest Q3 levels will be off. The Q2 pace of 6.7% growth, slightly higher than 
Q1's 6.3%. However, the anticipated growth rate for Q3 is 2.8%.

   For Monday, December settled at 108.54 cents, up 0.28 cent, March ended at 
106.56 cents, plus 0.37 cent and December 2022 ended at 89.76 cents, 0.49 cent 
higher; estimated volume was 21,063 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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