– Reporting Period 09 – 22 September 2026 –
ICE Cotton No. 2 futures lost significant ground during the current reporting period. December 2026 futures opened at 87.28 ct/lb during the reporting period and closed at 82.87 ct/lb, a decline of 5.1 per cent. Highs ranged from 88.80 ct/lb (Sep 10) to 80.71 ct/lb (Sep 18), representing a temporary loss of 9.1 per cent, before the quotations recovered somewhat earlier this week.
The bearish development of the futures was mainly caused by secondary factors, such as liquidations among speculators or competition from the Brazilian cotton market. According to the latest WASDE report, the gap between reduced production figures and unchanged consumption figures is rather widening. Weather conditions in the U.S. Cotton Belt are currently shifting from a prolonged drought to a forecast rainy season, right in the middle of the harvest. Against this background, the situation would likely be viewed as bullish.
In Europe, buying interest increased due to falling prices but was somewhat dampened by the strengthening U.S. dollar.