Cotton futures traded around 77 cents per pound, near the lowest since mid-April, pressured by falling oil prices along with signs of ample supply and a stronger production outlook. Latest data showed ICE certified stocks increased by 104 bales to 225,259, the highest level since July 2017. Meanwhile, weather conditions across the US cotton belt have improved, especially in West Texas, easing drought concerns and improving crop prospects. The USDA reported US cotton planting at 53% complete as of May 24, ahead of last year’s 50% pace and slightly above the five-year average, reinforcing expectations for stable to higher supplies. Separately, US Agriculture Secretary announced the “Great American Cotton Plan” aimed at strengthening the US cotton sector and support producers. Elsewhere, consulting firm StoneX kept its Brazil’s 2025/26 cotton production estimate unchanged at 3.858 million tons, while raising its export forecast by 6.5% to a record of 3.3 million tons.

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