EUR/US$: 1.1481
U.S. Cotton: Prices Fall Further on Thursday Amid Slow Export Business
Barchart: Cotton futures fell across the board on Thursday, with front-month contracts down 179 to 219 points. Dec26 settled at 82.17 cents, down 219 points; Mar27 closed at 84.81 cents, down 208 points. Crude oil eased about 0.5% on the session, while the dollar index slipped slightly. Weekly export sales for the week ended September 10 totaled just 71,231 RB for 2026/27, with Vietnam the top buyer; new-crop 2027/28 sales came in at 6,160 RB. Shipments reached 142,078 RB, up 17.91% from the same week last year, led by Vietnam and Pakistan. The Seam's Wednesday sale averaged 75.22 cents on 300 bales, the Cotlook A Index eased 5 points to 94.60, ICE certified stocks fell to 36,617 bales, and the Adjusted World Price dropped to 68.92 cents/lb.
Source: Barchart
U.S. Cotton: Open Interest and China's Reserve Sales Cloud a Fifth Straight Loss
Calcot (Cindy Walters): December cotton settled at 82.17 cents, down 219 points for a fifth consecutive loss, bringing the month-to-date decline to 1,097 points — about 60% of the gains made since mid-June. Volume jumped to 80,969 contracts, the heaviest in nine sessions, while open interest held near record highs even as Dec's own open interest kept shrinking, with much of that shifting into May. China's Zhengzhou (ZCE) cotton futures logged an 11th lower close in twelve sessions, and China's State Reserve offered a record 8,214 tonnes at Thursday's auction, selling 6,645 tonnes — the largest sale yet in its 44-round campaign. December cotton closed below its 100-day moving average for the first time since February 9, a bearish technical signal. Broader markets extended Wednesday's rebound from the Federal Reserve's 25-basis-point rate hike — its first since 2023 — as crude oil and Treasury yields eased; Saudi Arabia worked to restore oil flows through its damaged pipeline while the Iran conflict continued to disrupt regional energy markets.
Source: Calcot
U.S. Cotton: Weekly Export Sales Soft for Upland, Firm for Pima
USDA: Net upland sales for the week ended September 10 totaled 71,200 RB for 2026/27, down 4% from the previous week and 30% below the 4-week average, led by Vietnam (28,200 RB), Guatemala (14,000 RB) and Pakistan (7,500 RB). New-crop 2027/28 sales added 6,200 RB. Upland shipments came to 142,100 RB, down 20% week-on-week and 26% below the 4-week average, with Vietnam (44,600 RB), Pakistan (24,700 RB), India (18,000 RB) and Bangladesh (16,200 RB) the top destinations. Pima sales rose to 8,300 RB, down 17% from the previous week but up 68% from the 4-week average, led by India, Bangladesh and Thailand; pima shipments totaled 4,100 RB.
Source: USDA FAS
Brazil: Spot Cotton Trade Cools in Mid-September
Fibre2Fashion: Brazil's spot cotton market slowed in mid-September as sellers and buyers focused on fulfilling existing term contracts and shipments rather than striking fresh deals, with disagreements over price and quality further limiting trading. Declining ICE futures also discouraged business, pressured by lower international oil prices and a stronger dollar. The CEPEA/ESALQ cotton index fell 0.96% between August 31 and September 15, closing at R$432.27 (about $83.94). Separately, Brazil's crop agency Conab raised its 2025/26 production estimate to a record 4.144 million tonnes on higher yields (2,053 kg/hectare), with harvesting 95.6% complete as of September 11; it projects 2026/27 output at 4.157 million tonnes. USDA, in its September WASDE, trimmed global 2026/27 production 0.3% while raising its Brazil estimate 1.4% to 4.028 million tonnes and cutting the U.S. forecast 3% to 2.874 million tonnes.
Source: Fibre2Fashion
West Africa: Burkina Faso, Mali and Senegal Cotton Output Seen Lower for 2026/27
USDA FAS (Dakar): Combined 2026/27 cotton area across Burkina Faso, Mali and Senegal is forecast down 4% to 980,000 hectares, with production down 7.7% to 1.79 million bales from the April estimate, as a late start to the rainy season delayed planting region-wide. In Burkina Faso, SOCOMA — the country's second-largest cotton company — will sit out the marketing-year campaign for a second straight year because insecurity is keeping farmers from their land; still, regional exports are projected to rise 10% to 1.74 million bales, driven mainly by Burkina Faso. Mali's 2025/26 crop was hit by a jassid infestation, cutting area 14% and production 40% from the prior year. Senegal was the bright spot: 2025/26 area and production rose 67% and 60% respectively, and the country posted the highest yield in West Africa. Farm-gate prices for Mali and Senegal held steady for 2026/27, while Burkina Faso's fell about 4%.
Source: USDA FAS
Africa: New Training Manual Puts Farmer Dialogue at Heart of Cotton Advisory
Texdata: The Aid by Trade Foundation and African People & Wildlife have launched a new Community Engagement Training Manual for the Cotton made in Africa program, shifting advisory practice away from top-down instruction toward partnership-based dialogue with cotton farmers. Built around four modules covering community planning, participatory sessions and outcome evaluation, the manual casts local advisors and lead farmers as "community champions" who guide the process rather than direct it. Backers frame the approach as a response to climate change and biodiversity pressures that demand faster adaptation across sub-Saharan Africa's cotton belt.
Source: Texdata
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