U.S. upland classing slowed to 250,133 RB. Larger gins operated at capacity in Georgia. Many low-lying fields remained flooded in the South Delta. Increased cotton acres talked in Rio Grande Valley. Backlogs of modules grew on Texas Plains gin yards. Much of California got rain.

U.S. cotton futures settled lower Monday, touching a four-session low and giving back much of last week’s gain in spot March.

• March closed down 85 points to 61.60 cents, in the lower quarter of its 108-point range from up four points at 62.49 to down 104 points at 61.41 cents. It finished back below its nine-day and 18-day moving averages.
• May settled down 73 points to 62.10 cents, July lost 82 points to 62.48 cents and December dropped 78 points to 61.97 cents.
• Volume quickened to an estimated 29,495 lots from 18,184 lots the previous session when spreads accounted for 7,093 lots or 39% and EFP nine lots. Options volume totaled 3,419 calls and 1,218 puts.

U.S. upland cotton classing slowed to 250,133 running bales during the week ended Thursday from 331,417 the previous week, according to the latest figures from USDAΆs Agricultural Marketing Service.

Cotton tenderable on futures slipped to 49.6% from 50.1% and totaled 55.6% of 11.473 million RB of upland classed for the season. A year ago, USDA had classed 14.393 million RB of upland and tenderable cotton amounted to 69.5%. Ninety-five percent of the 2015 crop had been classed.

Classing of 12,568 RB of Pima boosted the total for the season to 405,154 RB, down from 503,635 RB a year ago. All-cotton classing of 11.878 million RB compared with the year-ago total of 15.204 million RB.

A few larger gins continued to operate at capacity in Georgia, but most had finished for the season, AMS said in a weekly cotton review. Ginning was rapidly nearing completion elsewhere in the Southeast.

Delta producers monitored commodity prices and continued to weigh planting options and crop rotation requirements. Flood warnings remained in effect for tributaries of the Mississippi River in the South Delta. Many fields remained flooded in low-lying areas in Mississippi and Louisiana.

With planting season approaching in the Texas Rio Grande Valley, talk of expanded cotton acres circulated. Industry discussions included crop rotation options, which also suggested an increase in cotton acreage.

Ginning continued in Kansas and Oklahoma. Some gins neared completion and others finalized seasonal operations. Kansas producers were encouraged with yields and quality. Early reports indicated planted acres could increase significantly — as much as double — this year.

Ginning advanced in the West Texas Plains as soils firmed under mostly dry, windy conditions. Transportation of modules was active and backlogs of modules on gin yards increased.

Wintry precipitation resulted in minor delays in harvesting and ginning early in the reporting period in the Panhandle. Harvesting resumed and was most active northeast of Lubbock.

Ginning also continued in Arizona and El Paso. Much of California got steady rainfall mid-period. Several inches of fresh snow fell in the Sierra Nevada Mountain range. The California Department of Water Resources recorded the snowpackΆs statewide water content at 111% of the January average.

Futures open interest grew 1,517 lots Friday to 191,991, with MarchΆs up 456 lots to 116,601 and MayΆs up 640 lots to 36,414. Cert stocks declined 2,676 bales to 58,627.