By Keith Brown, DTN Contributing Cotton Analyst 

The cotton market maintained its higher price levels as hopes of a COVID-19 vaccine had people thinking “normal” is right around the corner. Additionally, traders still believe USDA was off base with its increased 2020 cotton outlook.

Monday afternoon, USDA will issue its latest harvest data. Last week the government indicated the crop was 61% gathered, but producers also thought that number was too high.

The U.S. dollar was lower Monday as it appears Biden-Harris will win the election. The news says that the administration will likely try to increase COVID-19 relief stimulus. The printing and distribution of “helicopter money” will dilute the buying power of the dollar and likely send the U.S. Dollar Index lower. In fact, the annual low for the dollar is 9175, while Monday’s trade was 9260.

The CFTC will release its delayed commitments of traders data Monday afternoon. Of late, there has been a loss of open interest, but speculators had been resilient in keeping the long position intact. Monday information ought to give the trade a better look as to “whom is what where.”

Monday December cotton closed at 69.57 cents, up 1.11 cents, March settled at 71.58 cents, up 1.18 cents and December 2021 finished at 69.88 cents, up 1.03 cents. Estimated volume was 43,114 contracts.