Cotton soars in NY as crop conditions worsen

The New York Commodities Exchange (ICE Futures) for the cotton closed with higher prices this Tuesday (25).

The market finally took off with a technical recovery and following oil.

Signs that the market is oversold after recent sharp declines spurred short-covering. Worsening U.S. crop conditions contributed to the gains.

According to USDA, as of October 23, 30% were in good to excellent condition, 25% in regular condition and 45% in poor to very poor condition.

Last week, they were 31%, 23% and 46%, respectively.

Contracts for delivery in December/2022 closed the day at 78,47 cents per pound, up 2,34 cents, or 3,1%. The March/2023 position closed at 77,94 cents, up 2,20 cents, or 2,9%.

About the author

Ricardo Siqueira

I am an agricultural engineer from São Paulo with over 15 years of experience in the field and in the corporate sector. My career combines the tradition of agriculture with technological modernization, from managing urban gardens to managing complex agribusinesses. On the Agro Portal, I share analyses of digital tools, market trends, and recipes that value local production, always with a practical, data-driven perspective.

Cotton prices soar in NY as crop conditions worsen

About the author

Ricardo Siqueira

Agro Vida Portal