Cotton futures saw gains of 35 to 56 points across most contracts on Monday, with July cotton closing at 73.43 cents, up 49 points, December cotton at 76.81 cents, up 39 points, and March cotton at 78.12 cents, up 48 points. The US dollar index declined by $0.285 to 99.460, while crude oil prices dropped by $3.72 after the US and Iran agreed to a peace deal set to be signed on Friday.
As of Sunday, the US cotton crop is reported to be 86% planted, 2% behind the average pace, with 19% of the crop squared, which is 2% ahead of normal. Condition ratings for the cotton crop stand at 51% good/excellent, down 2 percentage points from the previous week. Additionally, the Brugler500 index has increased by 1 to 346, reflecting a 3% improvement in crop status from very poor to fair.
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