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DTN Closing Cotton 10/02 13:33
Cotton Feels the Harvest Heat
Despite supportive Chicago grains, the cotton market was weighed down by
seasonal pressures.
Keith Brown
DTN Contributing Cotton Analyst
Despite supportive Chicago grains, the cotton market was weighed down by
seasonal pressures. The current 2025 harvest is unfolding at a rapid pace. In
addition, the shutdown of the U.S. government has shut off all USDA news and
data, thus leaving traders directionless.
As of this writing, due to the government shutdown, Friday's CFTC numbers
and next week's October WASDE have been postponed.
The federal government shutdown entered day two on Thursday, Oct. 2, as the
President and his Republican allies in Congress, along with Democrats, showed
no signs of budging amid their impasse over funding the government. Senators
left town until Friday to observe the Jewish Yom Kippur holiday, meaning the
first shutdown since 2019 will last one more day at minimum. Yet a drawn-out
shutdown is an increasing possibility given the lack of progress toward a
compromise.
Crude oil was lower today, marking its fourth consecutive day decline.
Supposedly, OPEC may raise oil production by up to 500,000 barrels per day in
November. That would be triple the increase made for October, as Saudi Arabia
seeks to reclaim market share.
For Thursday, December 2025 ended at 65.09 cents, down 50 points; while
March 2026 closed at 67.04 cents, minus 42 points. Thursday's estimated volume
was 41,878 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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