DTN Morning Cotton Commentary          05/09 07:43

   Cotton Squares Up, Ahead of Weekend

   The cotton market is slightly higher Friday as it recovers from slightly 
oversold conditions, but also encouraged by this weekend's U.S./China trade 
talks. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market is slightly higher Friday as it recovers from slightly 
oversold conditions, but also encouraged by this weekend's U.S./China trade 
talks. The two sides are meeting in Switzerland and hopefully the initial 
meaning will go well. Traders are also preparing for Friday's CFTC data as well 
as Monday's WASDE update.

   Friday afternoon, the CFTC will update its Commitment of Traders 
information. For several weeks now, the once record short managed-money funds 
have been paring their massive position. Last week, they stood at 26,000 plus 
or minus contracts net short. That report is out at 3:30 p.m. EDT.

   This Monday, USDA will issue its supply-demand update via the May WASDE. 
Despite the fact that official 2025 acres have yet to be announced, the 
tabulators will present both yield and crop amounts. That report is out at noon 
EDT.

   Also on Monday, USDA will update its crop progress numbers. Last week's 
number showed the 2025 crop at 21% planted. The five-year average for that 
previous date is 20% complete. The numbers are out at 4 p.m. EDT.

   For Friday, close-in chart support for July cotton stands at 66.20 cents and 
65.50 cents, with resistance at 67.75 cents and 69.10 cents. Friday morning's 
estimated volume is about 6,987 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com or by calling 
(229) 890-7780.




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