The more active March 2026 cotton futures settled at 64.57 cents per pound, up 0.34 cent. The contract touched an intraday high of 64.83 cents, the highest level since November 18. The market signalled short-term stabilisation despite a broader downtrend. Other cotton contracts traded mixed but firm, ranging from unchanged to 34 points higher.
March’s intraday range covered 82 points (6,401–6,483), setting a new weekly high and indicating improving price strength despite thin liquidity.
December deliveries remained quiet, with zero notices issued on the fourth notice day. December open interest opened at 14 contracts, down by 39 from the previous day as expiry draws near. No December trades were reported.
Total ICE volume reached 35,364 contracts versus 35,393 in the previous session, showing steady activity even as traders reduced exposure before the holiday. Certified stocks were unchanged at 20,344 bales, with zero bales pending review, signalling stable deliverable supply conditions and no movement in warehouse registrations.
Market analysts noted that trading activity remained very light due to the Thanksgiving closure on Thursday and a shortened session on Friday. Cotton remains in a broader downtrend but is attempting to consolidate, with a projected near-term trading band between 63.00 and 65.00 cents per pound unless a new demand catalyst emerges.
In grains, Chicago soybean futures were mostly flat as traders adjusted positions ahead of the holiday. Broader sentiment was cautious, driven by uncertainty over US soybean purchase volumes from key buyers such as China.
The USDA will release export sales data for the week ending October 16 on Friday following delays caused by the 43-day federal government shutdown, which ended on November 12. BMI reaffirmed its outlook of 67 cents for 2025 and 70 cents for 2026, expecting tighter balances in 2026 due to mixed global production and stable consumption trends.
This morning (Indian Standard Time), ICE cotton for March 2026 traded at 64.57 cents per pound (up 0.34 cent). Cash cotton stood at 62.57 cents (up 0.34 cent); the December 2025 contract at 62.77 cents (up 0.34 cent); the May 2026 contract at 65.75 cents (up 0.32 cent); the July 2026 contract at 66.77 cents (up 0.26 cent); and the October 2026 contract at 67.45 cents (up 0.04 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.
ALCHEMPro News Desk (KUL)
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