ICE cotton gains on stronger export prospects, rising crude oil prices
ICE cotton futures rose as US cotton gained support from stronger export prospects, rising crude oil prices and a stock market rebound. Higher oil prices made polyester costlier, benefitting cotton demand. May 2025 contract settled at 66.98 cents per pound, with a net 6-session gain of 374 points. Traders awaited USDA’s export sales report, while the near-term outlook remained "sideways to higher."
ICE cotton futures rose as US cotton gained support from stronger export prospects, rising crude oil prices and a stock market rebound.
Higher oil prices made polyester costlier, benefitting cotton demand.
May 2025 contract settled at 66.98 cents per pound, with a net 6-session gain of 374 points.
Traders awaited USDA’s export sales report, while the near-term outlook remained "sideways to higher."
