– Reporting Period 01-14 July 2026 –
During the reporting period, the USDA released its WASDE report on July 10, projecting higher global cotton production while maintaining expectations of strong demand. At the same time, the market strengthened: U.S. spot prices and ICE quotations moved higher, U.S. cotton acreage was 6% above the previous year’s level and was already 97% planted by early July. Rising ICE futures, firmer prices in China, and stable international quotations further confirmed the market environment.
Renewed tensions between the United States and Iran once again brought geopolitical risks into focus. At the beginning of the week, U.S. President Trump announced plans to reinstate the blockade of the Strait of Hormuz. In addition, he proposed a 20% levy on freight passing through the strategically important waterway. These developments created fresh uncertainty at the start of the week and added further negative headlines for the markets.
Summer holiday shutdowns began in many European countries, leading to noticeable caution among both buyers and sellers. As a result, trading activity remained subdued and the market was generally quiet.