A more optimistic economic mood today has lifted July Cotton prices to their highest level since the reciprocal tariffs were announced. President Trump has back off from threatening to fire Fed Chair Powell, and the stock market is higher today in response.
Crude oil prices are also higher, and both of the factors lend support to cotton on ideas that a strong economy helps textile demand and that higher crude oil prices make man-made fibers more expensive.
The crop progress report this week showed US plantings had caught up last after starting out behind. The season is just getting started. Only 11% was planted in the US as of Sunday, but this was right on the average for this time of year.
World Weather Service says West Texas will receive some needed rain during mid-week and over the weekend, which should improve planting moisture for May. Excessive soil moisture in the Delta is expected to prevail for a while and limit planting progress.
Πηγή: admisi.com