By Keith Brown, DTN Contributing Cotton Analyst 

Cotton closed just below 90 cents Friday as speculators kept the upside pressure on the market. A growing perception among traders is that the 2021 crop is starting to suffer from too much rain. There are reports of shallow root systems, stunted growth and drowned-out fields. Of course, the key developmental time for the crop is mid-August, so there is time for either salvation or further adversity.

Fridays U.S. retail sales showed an unexpected increase in June as demand for goods remained strong. Retail sales rose 0.6% last month. Data for May was revised down to show sales falling 1.7% instead of declining 1.3% as previously reported.

Next week, traders will key on Monday’s crop condition data and Thursday’s export sales. Sandwiched in between those releases will be the technical action of the market and any serious fresh weather news.

For the week, December cotton ended up 2.22 cents. It was up 5.03 cents so far the month and up 15.06 cents thus far the month

Friday, December settled 89.90 cents, up 0.85 cent, March ended at 89.28 cents, up 0.68 cent and December 2022 ended at 79.96 cents, up 0.03 cent; estimated volume was 14,001 contracts.