U.S. cotton futures extend gains; Oct contract settles at 79.41 cents/lb
AI Market Summary
ICE cotton futures extended gains, supported by strong new-crop export sales (352,447 running bales, a marketing-year high) led by Vietnam, alongside softer USD that improves competitiveness. While old-crop sales were seasonally low and crude dipped modestly, firm shipments and steady certified stocks keep near-term supply tight. The combination reinforces bullish momentum and can spill over into broader ags risk appetite.
Impact level
● Medium
Affected assets
NCCOCOTTON2USD/USDT+0.73%
AI Insight · NCCOCOTTON2USD/USDTAI Insight
▲ Bullish
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U.S. cotton futures extended their rally, with the most-active contracts rising 89–139 points on Thursday and the October contract settling at 79.41 cents per pound. Weekly new-crop export sales totaled 352,447 running bales (RB), the highest of the marketing year, led by Vietnam with 245,500 RB. The U.S. dollar index fell 0.914, while crude oil slipped 50 cents per barrel. ICE certified cotton stocks were unchanged at 90,699 bales.
