By Keith Brown, DTN Contributing Cotton Analyst
The cotton market ended sharply higher amid strong export sales and very robust supply-demand data.
Initially, traders saw super sales of 403,000 bales, which was much higher than the four-week pace. China was a big buyer. Additionally, weekly shipments were 323,000 bales, up 79% on the week. Then, at noon Eastern, USDA released its monthly supply-demand report.
Within that information the 2020 Crop was lowered 1.4 million bales to 15.95 million, which in turn dropped ending stocks 1.50 million to 5.70 million bales. Global stocks also fell nearly 4 million bales.
Going into Friday, March cotton is up 2.69 cents on the week, up 2.11 cents on the month and up 3.46 cents on the year.
For Thursday, March cotton closed at 74.26 cents, up 1.21 cents, July settled at 75.73 cents, up 1.31 cents and December 2021 ended at 72.55 cents, up 0.82 cent. Estimated volume was 36,146 contracts.