Keith Brown DTN Contributing Cotton Analyst    

The cotton market experienced a very bullish week, led by Spot December's incredible 1,600-point vertical move. That contract was inspired higher by massive short-covering ahead of next week's options expiration and then subsequent delivery starting in 12 days.    

Traders are also wanting some sort of "official validation" from the Chinese Government over its relaxing or removing of COVID restrictions. Earlier in the week, there were rumors circulating on social media that certain restrictive protocols would soon be negated.

Friday afternoon the CFTC will issue its weekly Commitments of Traders report. Last Friday the data showed managed money funds were net long a mere 13,000 contracts. However, the numbers on today's report will be as of Tuesday's settlement, thus a big portion of this week's rally has yet to be factored.    

On Monday, USDA will update the progress of the on-going harvest. Last time, the pace was 55% complete. Of course, Tuesday is highly important midterm Congressional elections, followed by the November supply-demand estimates on Wednesday, Nov. 9. Some analysts are increasing the 2022 crop by 80,000 bales.    

At Friday's settlement, December cotton is up 1,482 points on the week, plus 1,493 points on the month, but still 572 negative on the year.    

For Friday, December closed at 86.93 cents, up 3.93, March 23 finished at 85.67, plus 3.50, and July 23 settled at 83.26, 2.10 higher. Friday's estimated volume was 89,221 contracts.    

Keith Brown can be reached at commodityconsults@gmail.com 

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