ICE No. 2 cotton settles in losses

Nearby months ended between 33 to 92 points lower. March ’25 futures opened at 71.91 cents/lb (-2) and gained modest ground early in the session, moving to an intraday high of 72.06 cents/lb (+13) during the first 30 minutes. The most active contract met resistance and continued its downward trend over the next several hours, falling under triple-point losses and to a low of 70.38 cents/lb (-155) around 1350 GMT. March cotton moved off its low but traded on modest to moderate losses over the rest of the session to settle at 71.49 cents/lb (-44).

ICE estimated volume at 46,500 contracts, higher than Friday’s 27,424. At the time cotton settled, the US dollar was trading higher while corn, soybeans and wheat were trending lower.

Total open interest rose by 232 contracts to 232,111. December ’24, March ’25 and July ’25 interest decreased by 2, 1,066 and 226 contracts, respectively, to 252, 131,838 and 30,3114 while May ’25 and December ’25 interest increased by 898 and 627 contracts, respectively, to 40,717 and 27,651.

Certificated stocks were last reported at 13,274 bales, unchanged and remaining at its highest level since August 16 (15,526). There were no bales awaiting review and 62 bales reported in both cert stocks and CCC loan as of November 29.

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