ICE cotton prices rose on Friday and were on track for their first weekly rise in three, supported by a weaker U.S. dollar and an upbeat sentiment in the grains and oil market.

* Cotton contracts for May (CTc2) rose 0.62 cent, or 0.91%, at 68.6 cents per lb at 10:45 a.m. ET (1545 GMT). The contract is up nearly 3% so far this week.

* "The dollar being lower is going to help us sell stuff. To make some more progress, we need it to weaken some more," said Jim Nunn, owner of Tennessee-based cotton brokerage Nunn Cotton.

* The U.S. dollar traded around three-week lows, as traders took some comfort from the fact Washington's reciprocal tariffs were not immediately imposed, while a U.S. producer price report helped sooth some inflation concerns.

* A weaker dollar makes greenback-priced cotton less expensive for overseas buyers.

* Chicago corn, wheat and soybean futures extended gains, supported by investor relief that U.S. President Donald Trump did not immediately impose reciprocal tariffs globally, as well as concern over crop weather in various parts of the world.

* "We'll see the release of the National Cotton Council acreage number over the weekend and people are waiting to see what those estimates would be. Lots changed in the last month, so will those numbers be an accurate reflection of what we're paying attention to? I don't know," Nunn said.

* Oil prices rose on Friday, buoyed by rising fuel demand and expectations that U.S. plans for global reciprocal tariffs would not come into effect before April, providing more time to avoid a trade war.

* Higher oil prices make cotton-substitute polyester more expensive.