DTN Morning Cotton Commentary          06/22 07:15

   Cotton Tightly Wound Ahead of Key Reports

   After experiencing a near 550 point revival off its June low, December 
cotton has been tightly wound for the last few sessions.

Keith Brown
DTN Contributing Cotton Analyst

   After experiencing a near 550 point revival off its June low, December 
cotton has been tightly wound for the last few sessions. Traders are awaiting 
this afternoon's delayed CFTC update, followed by the Crop Progress data. 
However, more importantly they are anticipating the Planted Acres report of 
next week.

   The CFTC's Commitment of Traders update will be released today at 3:30 p.m. 
EDT. The report was delayed a day due to the federal observance of the 
Juneteenth holiday.

   USDA will issue its weekly Crop Progress report today at 4 p.m. EDT. Last 
week saw the planting pace of the 2026 crop at 86%, with an overall rating of 
53% good to excellent.

   Crude oil is slightly lower after a thrilling positive opening last night. 
After some weekend wobbling, mediators now say that U.S. and Iranian officials 
have agreed on a roadmap aimed at reaching a final deal within 60 days. Talks 
will supposedly continue throughout this week. The change in Iranian attitude 
came about after President Donald Trump threatened renewed military action 
against Iran.

   The 6- to 10-day forecast (June 27-July 1) shows above normal to much 
above-normal temperatures for much of the U.S. Cotton Belt. Rainwise, Texas 
looks to have below-normal chances, while the Southeast shows near-normal odds.

   On June 30, USDA will issue its Planted Acres report. Some analysts are 
expecting greater 2026 acres due to the spring rally to 88.00 cents. Also worth 
noting is that the March Intentions were higher than expected.

   Chart support for December cotton stands at 78.50 cents and 78.05 cents, 
with resistance around 81.00 cents and 81.75 cents. Monday morning's estimated 
volume is 17,305 contracts.

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




(c) Copyright 2026 DTN, LLC. All rights reserved.