Cotton futures extend gains early Wednesday, up 25–30 points
AI Market Summary
Cotton futures extended gains into Wednesday after a strong Tuesday rally. USDA Crop Progress showed squaring slightly ahead of normal and a modest improvement in good/excellent ratings, supporting near-term supply expectations. ICE certified stocks declined to 97,800 bales, tightening deliverable availability. Rising crude oil and a firmer dollar added cost and macro support, reinforcing upward price pressure in the session.
Impact level
● Medium
Affected assets
NCCOCOTTON2USD/USDT+0.33%
AI Insight · NCCOCOTTON2USD/USDTAI Insight
▲ Bullish
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Cotton futures extended Tuesday’s rally in early Wednesday trade, with the front-month contract up 25–30 points after closing 145–159 points higher in the prior session. USDA Crop Progress data showed 73% of the U.S. cotton crop was squared as of Sunday, 1 percentage point ahead of normal, while the good/excellent rating rose 1 point on the week to 45%. ICE-certified cotton stocks fell 1,038 bales to 97,800 bales, and crude oil gained $1.76 per barrel as the U.S. dollar index rose 0.254, adding cost support.
