ICE No. 2 cotton settles on modest losses

Nearby months ended between 12 to 25 points lower. December ’25 futures opened at 67.77 cents/lb (-4) and immediately moved to a high of 68.00 cents/lb (+19) as soon as the market opened. The lead month slowly met resistance over the next several hours, reversing course and falling 29 points lower around 0700 GMT. The most active contract traded near the bottom of its range over the next hour until buyers returned, lifting the nearby month back to its high for the day (68.00 cents/lb) around 1200 GMT. Sellers moved into action, causing December cotton to fall back to the downside and to a low of 67.25 cents/lb (-56) by 1340 GMT. The lead month moved off its low, trading under pressure over the rest of the session to settle at 67.56 cents/lb (-25).

ICE estimated volume at 31,500 contracts, just above yesterday’s 31,132. At the time cotton settled, the US dollar was trading higher while corn, soybeans and wheat were trending lower.

Total open interest rose by 1,128 contracts to 240,643. December ’25 and July ’26 interest decreased by 503 and 225 contracts, respectively, to 153,715 and 10,192 while March ’26 and May ’26 interest increased by1,130 and 110 contracts, respectively, to 46,398 and 12,901.

Certificated stocks were last reported at 17,017 bales, unchanged and remaining at its lowest level since May 9 (16,721). There were no bales awaiting review and no bales reported in both cert stocks and CCC loan as of August 18.

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