Cotton Starts June Higher

The cotton market is sharply higher as a new month unfolds. A combination of higher crude oil, stock markets and slightly oversold conditions is contributing to the rise.

Monday afternoon at 4 p.m. EDT USDA will update its planting progress reports. Last week, the 2026 crop was 53% planted, which was in line with its five-year average.

Last Friday the CFTC updated its Commitments of Traders data. The numbers showed managed-money has finally returned to the net sell side after being net buyers for 12 out of the previous 13 weeks.

The Climate Prediction Center published its drought monitor readings last Thursday. Currently, some 94% of the U.S. cotton area is rated as being in drought. The peak number was 98% from two weeks ago. 

Chart support for December cotton stands at 80.20 cents and 79.50 cents, with resistance around 80.20 cents and 83.00 cents. Monday morning’s estimated volume is 28,349 contracts.

Keith Brown can be reached at commodityconsults@gmail.com or by calling (229) 890-7780.