By Keith Brown, DTN Cotton Correspondent 

The cotton market ended Thursday only slightly higher despite superior sales and exports data. USDA reported marketing-year-high levels for both sales and exports in its weekly business. In fact, China was a strong buyer of old crop cotton for the second consecutive week.

The fact that the Dow Jones was at its bearish ways again by plummeting some 900 points probably had something to do with cotton’s shyness. Yet, given that cotton’s news was so market-specific friendly, its response was so weak underscores the growing fears of the coronavirus.

Although 2020 planting is a few weeks off, field conditions are poor across Southeast. Of late, that area has been consistently pummeled with deep rain events. Of course, most preseason surveys are indicating fewer acres even before emergence of the coronavirus and now the current rains episodes.

Thursday, May cotton closed at 63.35 cents, up 0.37 cent, July finished at 64.03 cents, up 0.36 cent and December ended at 64.38 cents, up 0.42 cent. Estimated volume was 29,761 contracts.