banner-slide-3

News Details

Home / News / DTN Cotton Close

DTN Cotton Close

Cotton Down Amid Banks and Biden

April 25, 2023

The cotton market was sharply lower Tuesday as new bank solvency jitters and Biden's announcement to seek another presidential term sent prices melting.

The cotton market was sharply lower Tuesday as new bank solvency jitters and Biden's announcement to seek another presidential term sent prices melting. Across the trading screens, most financial and commodities markets simply melted in place.

Tuesday's Conference Board Index was the lowest seen in nine months. Traders were anticipating a virtual unchanged level of 104, but the new April reading stood at 101.3%.

President Biden wants to, in his works, finish the job, although polls on both sides indicate the majority of the country does not want him to run. He would be 86 years old at the conclusion of a second term. 

Traders have essentially priced in another rate hike from the Federal Reserve. However, the week after the central bank meets there will be fresh inflation data via the CPI and the PPI. If those reports identify worsening inflation, then additional rate increases are possible.

Weather-wise, the five-day forecast shows heavy rains possible for central Oklahoma and north central Texas. In addition, the six- to 10- and the eight- to 14-day outlooks indicate above-normal chances for rain in West Texas.

Tuesday, May 2023 finished at 77.00 cents, down 1.98 cents, July settled at 78.62 cents, down 2.07 cents and December 2023 ended at 79.37 cents, 1.91 cents lower. Estimated volume was 34,822 contracts.

Latest News & Reports

Basis Comparison of ICS 105 with ICE Futures and Cotlook A Index - 31st May 2025

Tabulation & Chart regarding the Basis Comparison of ICS 105 with ICE Futures & Cotlook A Index - 31...

Read More...

PCCA Cotton Market Weekly

MAY 30, 2025 *Markets were busy despite the holiday-shortened trade week, with cotton slipping to...

Read More...

U.S. EXPORT SALES

For Week Ending 22-May-2025 Net Upland Sales 2024-25 Net sales of Upland totaling 118,700 RB...

Read More...

MSP 2025-2026

Government of India has increased the Minimum Support Price of Medium Staple Cotton from 7,121 to 7,...

Read More...

Basis Comparison of ICS 105 with ICE Futures and Cotlook A Index - 26th May 2025

Tabulation & Chart regarding the Basis Comparison of ICS 105 with ICE Futures & Cotlook A Index - 26...

Read More...