ICE cotton hits two-week high on heavy rain, weak dollar
ICE cotton futures surged to a two-week high on June 24, driven by excessive rainfall in US cotton regions, crop damage concerns, and a weaker US dollar. The December 2025 contract rose to 67.79 cents per pound. Market sentiment was also supported by a ceasefire between Iran and Israel. USDA data showed a decline in crop condition, while cotton outperformed grains, which closed lower.
ICE cotton futures surged to a two-week high on June 24, driven by excessive rainfall in US cotton regions, crop damage concerns, and a weaker US dollar.
The December 2025 contract rose to 67.79 cents per pound.
Market sentiment was also supported by a ceasefire between Iran and Israel.
USDA data showed a decline in crop condition, while cotton outperformed grains, which closed lower.
