ICE cotton futures saw a significant rebound after an initial decline, driven by bargain hunting and short covering.
The May 2025 contract rose by 4.15%, settling at 65.99 cents per pound. The rise was further supported by positive trade intentions from Vietnam, the leading importer of US cotton in 2025. The USDA reported that Vietnam has already imported over 1.
4 million bales of Upland cotton this year.
Despite the rebound, US cotton planting progress remains slower than last year, with only 4% planted as of April 6, compared to 5% in the previous year and the five-year average of 6%.
Other agricultural futures were mixed, with soybean and wheat rising, while corn futures declined due to expectations of increased planting acreage in the US.
The short-term outlook for ICE cotton is shaped by speculative activities and trade developments with countries like Vietnam, which is negotiating better terms with the US to delay tariffs.
As of the latest data, cotton futures contracts showed varying trends, indicating a mixed market sentiment.
