Cotton futures slide 250 to 350 points early Wednesday
AI Market Summary
Cotton futures extended losses early Wednesday, reinforcing a near-term bearish tone despite slightly improved US good/excellent conditions. Crop progress shows high boll-setting and rising poor/very poor ratings, with Texas weakening further, highlighting uneven supply quality risk. ICE certified stocks were unchanged, while the Adjusted World Price increased, tightening the link between US policy pricing and global benchmarks amid risk-off commodity flows.
Impact level
● Medium
Affected assets
NCCOCOTTON2USD/USDT+0.36%
AI Insight · NCCOCOTTON2USD/USDTAI Insight
▼ Bearish
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Cotton futures fell 250 to 350 points early Wednesday morning, extending losses from the prior session. USDA weekly Crop Progress data showed 89% of the US cotton crop had set bolls and 29% had bolls opening as of Sunday. The good/excellent rating rose to 39%, while poor/very poor increased 3%, pushing the Brugler500 index down to 302 and Texas ratings down to 260. ICE certified cotton stocks held at 63,178 bales, and the Adjusted World Price was raised to 71.52 cents/lb.
