The most traded May 2026 contract settled at 69.41 cents per pound, up 1.23 cent or 1.80 per cent. The contract reached at the highest level since April 25, 2025, showing bullish momentum. December 2026 contract settled at 73.64 cents per pound with gain of 101 points, marked multi-month highs. Market posted third consecutive session of gains, supported by strong demand outlook and external market strength.
ICE cotton futures extended gains to an 11-month high, with May 2026 settling at 69.41 cents/lb, supported by strong US export sales and rising crude oil prices.
Higher oil made polyester costlier, improving cotton’s appeal.
Robust trading volumes and fresh buying signalled bullish sentiment, while markets await key USDA data for further direction.
Rising crude oil amid Middle East tensions (US-Israel-Iran conflict concerns) increased polyester costs, improving cotton demand outlook.
Total trading volume reached 95,772 contracts, highest in last 7 sessions, indicating aggressive participation. Open interest in May rose to 138,471 contracts, 543 contracts higher, indicating fresh long buildup. Certified stocks remained unchanged at 114,665 bales.
USDA export sales were 202,400 bales, 3 per cent higher week on week. But the outbound trade was 5 per cent lower than 4-week average, showing steady but slightly below trend demand.
Market supported by expectations of potential US-China trade deals, which could further boost US cotton exports.
Market is awaiting USDA’s March 31 reports regarding grain stocks and planting intentions. Analysts expect 2026 US cotton acreage at 9.229 million acres against 9.4 million earlier estimates.
This morning (Indian Standard Time), ICE cotton for May 2026 was traded at 69.27 cents per pound (down 0.14 cent), cash cotton at 67.41 cents (up 1.23 cents), the July 2026 contract at 71.46 cents (down 0.06 cent), the October 2026 contract at 73.33 cents (up 1.20 cent), the December 2026 at 73.65 cents (up 0.01 cent) and the March 2027 contract at 74.60 cents (down 0.03 cent)). A few contracts remained at their previous closing levels, with no trading recorded so far today.
Fibre2Fashion News Desk (KUL)