Cotton futures experienced significant gains on Monday, with contracts closing 110 to 309 points higher. The U.S. dollar index decreased by $0.298, settling at $98.91, while crude oil prices increased by $1.83 to $107.25. According to NASS Crop Progress data published on May 17, 41% of the U.S. cotton crop has been planted, exceeding the five-year average of 40% by one percentage point.
In related news, the White House disclosed on Sunday that China is committed to purchasing at least $17 billion annually in U.S. agricultural products over the years 2026 to 2028. The Cotlook A Index dropped 275 points to 93.90 cents as of May 15, while ICE certified cotton stocks rose by 324 bales to a total of 193,438 bales. Last week, the Adjusted World Price climbed by 228 points to reach 71.87 cents per pound.
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