ICE No. 2 cotton settles mixed

Nearby months finished on modest changes, between 25 points lower to 11 points higher. March ’25 futures opened at 69.00 cents/lb (+9) and had a mixed tone with modest changes during the first several hours, trading in a narrow range and falling to a low of 68.80 cents/lb (-11) by 1140 GMT. The most active contract slowly gained ground over the next couple of hours, moving to a high of 69.29 cents/lb (+38) around 1330 GMT. The lead month moved off its high but traded mostly to the upside over the rest of the session to settle at 69.02 cents/lb (+11).

ICE estimated volume at 54,000 contracts, lower than Friday’s 72,582. At the time cotton settled, the US dollar was trading lower while corn, soybeans and wheat were trending higher.

Total open interest rose by 1,913 contracts to 249,347. December ’24 and December ’25 interest decreased by 6,306 and 549 contracts, respectively, to 26,820 and 24,214 while March ’25, May ’25 and July ’25 interest increased by 7,723, 675 and 281 contracts, respectively, to 130,620, 36,108 and 30,293.

Certificated stocks were last reported at 13,187 bales (its highest level since August 16), which included new certs for 1,123 bales. There were 1,291 bales awaiting review and no bales reported in both cert stocks and CCC loan as of November 15.

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