DTN Morning Cotton Commentary          06/30 07:37

   Cotton Awaits Tuesday's Data 

   The cotton market is slightly higher Tuesday as traders anticipate USDA's 
planted acres data. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market is slightly higher Tuesday as traders anticipate USDA's 
planted acres data. In addition, there are releases yet to be assessed this 
week including export sales, the monthly jobs report and Consumer Confidence 
numbers. 

   Monday afternoon, USDA issued its crop progress data. The weekly Crop 
Progress report showed the 2026 cotton crop is 97% planted versus the five-year 
average of 97% complete. Condition-wise, the overall weekly good-to-excellent 
rating slipped to 48%, down from 53% the previous week and 51% a year ago and 
on par with the five-year average for this date. Texas was 39% good/excellent, 
down from 44% last week, but equal to last year's 39% level. Georgia, Arkansas, 
Mississippi, North Carolina, and Oklahoma all somewhat declined from last 
week's ratings.

   Tuesday at noon EDT, USDA will release its Planted Acres report. The average 
industry estimate stands at 9.63 million acres against the previous March 
Intentions of 9.60 million, and versus the National Cotton Council's membership 
survey of 9.0 million acres. The data will be out at noon eastern.

   On Thursday, traders will see fresh export sales numbers from USDA. Last 
week, the current crop sales were 83,000 bales, off 53%, while shipments were 
some 300,000 bales, up 20%.  

   With the observance of the Fourth of July, America's 250th, this Friday, the 
Labor Department will release its monthly jobs report on Thursday. Last month 
saw a job tally of 172,000, with an unemployment rate of 4.4%. Expectations for 
this week are 113,000 new non-farm jobs.

   Chart support for December cotton stands at 75.50 cents and 74.95 cents, 
with resistance around 79.00 cents and 78.29 cents. Tuesday morning's estimated 
volume is 7,289 contracts.

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




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