DTN Closing Cotton            03/24 13:33

   Cotton Reverses Higher Tuesday as Traders Await Direction

   The cotton market reversed Monday's lower "feel" by posting a Tuesday 
reversal session. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market reversed Monday's lower "feel" by posting a Tuesday 
reversal session. Traders are still waiting on acres intentions, weather 
forecasts, and of course, the happenings in Iran for ultimate direction.

   This Thursday, USDA will update its weekly export sales data. Last week's 
business saw combined seasonal sales of 320,000 bales, with shipments at 
273,000, off 26% weekly.

   USDA will issue its Planting Intentions report on March 31 at noon EDT. This 
will be the first official look at 2026 acres.

   Today is the cut off session for calculating this Friday's Commitment of 
Traders report. At last count, the CFTC reported that the managed-money funds 
were net short some 40,000 positions, about one-half their record peak of 
81,000-plus contracts. The report will be issued at 3:30 p.m. EDT.

   Crude oil was higher today, cutting losses from its sharp decline on Monday. 
With President Trump saying one thing and the Iranians saying another, traders 
are gearing up for a greater escalation in the war. Currently, there is a 
five-day pause in major military actions enacted by the White House.

   For Tuesday, July closed at 69.77 cents, up 46 points; December 2026 closed 
at 72.28 cents, plus 44 points; and March 2027 finished at 73.35 cents, 41 
points higher. Tuesday's estimated volume was 52,002 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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