Cotton Prices Edge Up on Crude Oil Gains, Weaker Export Sales Limit Rally

ICE cotton futures gained modestly for the fourth consecutive session on July 23, supported by higher crude oil prices and gains in agricultural commodity markets. The most-active December 2026 contract settled at 81.21 cents per pound, up 0.10 cent.

The market's advance was limited due to weaker US export sales and a firmer US dollar, according to analysts. Current-crop Upland cotton export sales totalled 51,287 bales, down 49% from the previous week and 12% below the four-week average.

Traders remained focused on global production prospects, including China's reserve auctions and weather-related production risks in major exporting countries. Brazil's 2025-26 cotton crop was estimated at approximately 4.20 million tonnes, around 1.5% higher than its previous estimate.