ICE cotton futures recovered after hitting a four-month low in the previous session, supported by steadiness in crude oil and a rebound in the grain market. Crude oil steadied after a steep fall in the prior session, while gains in soybeans and wheat boosted sentiment in cotton trade.
ICE’s most active December 2025 contract settled at 66.76 cents per pound (0.453 kg), up 0.16 cent, after touching its lowest level since April 7 in the previous session. Other contracts ranged from 6 points lower to 16 points higher.
In energy markets, international oil prices were largely stable after falling more than 4 per cent last week, as traders awaited developments from a meeting between Russian and US leaders in Alaska this week. Higher oil prices generally make the synthetic fibre polyester more expensive, potentially improving cotton’s competitiveness.
Trading volume during the session totalled 35,550 contracts, compared to 39,231 contracts cleared on Friday. Exchange data showed that, as of August 8, deliverable stocks of ICE No. 2 cotton stood at 18,242 bales, unchanged from the prior day.
According to market analysts, the rebound followed significant selling pressure last week. On the Chicago Board of Trade (CBOT), soybean futures climbed more than 2 per cent on Monday on expectations of stronger US export demand. Wheat and corn futures also gained, providing cross-commodity support to cotton prices.
Traders are now awaiting the US Department of Agriculture’s (USDA) monthly World Agricultural Supply and Demand Estimates (WASDE) report, due Tuesday, which could provide fresh direction for cotton amid shifting global demand trends.
Commitment of Traders (COT) data from the US Commodity Futures Trading Commission (CFTC), released Friday, showed speculators increased their net short positions in ICE cotton futures and options by 7,782 contracts to 60,754 contracts for the week ending August 5.
USDA’s weekly crop progress report for the week ending August 10 rated the US cotton crop at 53 per cent good to excellent, down from 55 per cent the previous week, but above the 46 per cent rating at the same time last year. The boll setting rate reached 65 per cent, compared to 55 per cent the previous week, 72 per cent last year, and the five-year average of 71 per cent. The boll filling rate was 8 per cent, up from 5 per cent the previous week, but below 12 per cent last year and slightly under the five-year average of 10 per cent.
Brazil’s export performance was weaker year-on-year. Data from the Brazilian Secretariat of Foreign Trade (Secex) showed that during the first week of August, Brazil exported 17,242.63 metric tons of cotton, averaging 2,873.77 tons per day—a 43 per cent decline from the average daily export volume of 5,080.22 tons in August last year.
As of now, ICE cotton for December 2025 traded at 66.76 cents per pound (unchanged), cash cotton at 64.04 cents (down 0.03 cent), the October 2025 contract at 65.29 cents (down 0.03 cent), the March 2026 contract at 68.20 cents (down 0.03 cent), the May 2026 contract at 69.43 cents (up 0.01 cent), and the July 2026 contract at 70.26 cents (up 0.01 cent). Several contracts remained unchanged from their previous closing levels, with no trading recorded today.
