DTN Closing Cotton            04/29 13:34

   Cotton Succumbs to China Fears

   The cotton market, among other U.S. agricultural markets was materially 
lower on the persistence of the U.S./China trade talks.

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market, among other U.S. agricultural markets was materially 
lower on the persistence of the U.S./China trade talks. For all the publicity, 
the U.S. said there are indeed background negotiations happening, while the 
Chinese flatly deny any such meetings are being held. Under that shadow, U.S. 
markets traded lower.

   Spot May cotton saw no deliveries Tuesday. Thus far, there have been nine 
notices issued by StoneX Financial. The stoppers were Macquarie and SG 
Americas. Delivery period will run through May 7.

   As the final week of April winds down and the month of May unfolds, there 
are several key economic reports due this week for traders to assess. Wednesday 
at 9 a.m. CDT, Consumer Confidence will be released. Then on Wednesday, traders 
will have new Q1 2025 GDP data, plus Personal Income. On May 1, there will be a 
new round of export sales and jobless claims. Lastly, is Friday's big jobs 
report.

   Crude oil was lower Tuesday, posting a near two-week low. Traders are 
concerned with energy's demand growth due to the trade war between the U.S. and 
China. In addition, OPEC+, now suggests it may accelerate its output for all of 
May and June.

   For Tuesday, May cotton settled at 66.35 cents, down 3 points; July cotton 
ended at 66.49 cents, minus 106 points; and December finished at 68.27 cents, 
74 points lower. Tuesday's estimated volume was 47,283 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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