DTN Morning Cotton Commentary          11/19 07:12

   Cotton Finds a Little Help

   The cotton market is slightly higher Wednesday as it is trying to overcome 
the agony of posting three consecutive life-of-contract low sessions. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market is slightly higher Wednesday as it is trying to overcome 
the agony of posting three consecutive life-of-contract low sessions. No doubt 
its overall fundamentals are bearish, with huge drops, lackluster demand and 
negative technicals. Still traders are willing to assess several delayed 
reports before either resuming or reversing the tedious downtrend.

   Thursday at 8:30 a.m. CST, the Labor Department will issue a catch-up 
monthly jobs report. Recent private-sector employment tabulations suggested a 
huge drop-off in hirings has occurred. The September non-farm payrolls number 
was 22,000.

   USDA is expected to issue weekly export sales report. They have published a 
schedule of releases which looks to be offering data with a one-week lag till 
January 2026.

   For the record, USDA released its first weekly Crop Progress report since 
the shutdown on Monday. The data showed 71% of the U.S. 2025 crop has been 
harvested. That number lags last year's pace of 76% and falls just behind the 
5-year average for this date of 72%.

   On Friday, December cotton will enter its notice period. All traders, except 
those intending to participate in the notice process, will have to liquidate or 
roll forward by the close of Thursday. Current open interest for the spot month 
is 18,803 contracts.

   The CFTC has yet to issue any Commitments of Traders information, but as of 
this writing, the agency may do so this Friday. On its last report, Sept. 26, 
the managed-money funds held a net-short position of 62,004 contracts.

   Daily chart support for March cotton stands at 63.75 cents and 63.00 cents, 
with resistance at 64.45 cents and 66.00 cents. Wednesday morning's estimated 
volume is 7,610 contracts.

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




(c) Copyright 2025 DTN, LLC. All rights reserved.