Crop conditions continue to deteriorate, ICE cotton futures break through the 90-cent mark
Driven by ongoing concerns over deteriorating crop conditions, coupled with further boosts from a strengthening grain market, Intercontinental Exchange (ICE) cotton futures on Thursday climbed above the key threshold of 90 cents per pound for the first time since the beginning of 2024.
In recent weeks, supported by weather-related concerns that have worsened crop prospects, ICE cotton futures have steadily risen, posting gains exceeding 10% so far this month.
“Recent field inspections have shown a significant deterioration in the growth conditions of large-scale crops, and cotton has also been affected by these concerns.”
— The president of Chicago Lakefront Futures and Options
He added that the worsening crop conditions continue to provide support for prices. The latest crop progress report released earlier this week by the U.S. Department of Agriculture (USDA) showed that the good-to-excellent rating for U.S. cotton has further declined:
The El Niño climate phenomenon is expected to be particularly strong this year, significantly altering rainfall patterns and potentially exerting a sustained impact on commodity prices.
In addition, Chicago wheat futures have risen to a three-year high, providing additional support for cotton prices; there are reports that Russia may intensify its attacks on Ukraine, heightening market concerns about prolonged disruptions to the substantial grain trade in the Black Sea.
Post time: Aug-28-2026
