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Textiles
ICE cotton weakens as profit booking, lower crude weigh on prices
10 Jul '26
3 min read
shutterstock.com
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ICE cotton futures fell for a second straight session as profit-taking and lower crude oil prices outweighed weather concerns and export demand.
The December 2026 contract settled at 80.63 cents/lb.
Traders stayed cautious ahead of the USDA's July WASDE report, while weaker US export sales and lower trading volumes added to market pressure.
ICE cotton futures further declined on second consecutive day yesterday. The profit booking continued which offset support from weather concerns and export demand. Traders were reluctant to add fresh long positions ahead of USDA WASDE report. While, falling crude oil further added pressure on cotton prices, while US cotton export sales declined from the previous week.
The most active December 2026 contract settled at 80.63 cents, down 0.04 cent. The contract remained 351 points higher for the week and closed above the 80-cent level for the third consecutive session. Other nearby contracts settled 5 to 24 points lower.
ICE cotton futures fell for a second straight session as profit-taking and lower crude oil prices outweighed weather concerns and export demand.
The December 2026 contract settled at 80.63 cents/lb.
Traders stayed cautious ahead of the USDA's July WASDE report, while weaker US export sales and lower trading volumes added to market pressure.
Prices fell sharply during the first half of the session before recovering most of their losses by the close, reflecting continued buying interest at lower levels. Market analysts attributed the weakness primarily to profit-taking following the recent rally, noting that much of the weather premium had already been priced in. Despite the pullback, the market remained technically constructive after moving abo
