Crude oil strengthens and the US dollar softens, ICE cotton rebounds from a three-week low

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智通财经2026/09/09 13:31

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Intercontinental Exchange cotton futures rebounded from a three-week low on Wednesday. The main December contract once fell to 85.56 cents per pound during the session before bouncing back, eventually closing up more than 1% at 87.44 cents per pound. Rising oil prices and a weaker dollar together increased the relative appeal of natural fibers.
Brent crude oil broke above the $100 per barrel mark, pushing up the production costs of polyester fiber and thereby enhancing cotton's competitiveness relative to synthetic fibers. Meanwhile, the US dollar index neared a two-week low, further reducing procurement costs for overseas buyers. This dual factor supported cotton prices in stabilizing.
According to institutional views, cotton has now found a relatively solid support area and has short-term rebound potential. However, prices may continue to fluctuate between support and resistance zones, and the short-term trend remains subject to macro sentiment and capital flows.
Market attention is shifting to this Friday’s USDA global supply and demand estimate report, where the progress of new cotton harvesting in the Northern Hemisphere and growers’ feedback to recent price weakness will provide clearer fundamental guidance.
Meanwhile, Chicago wheat futures fluctuated repeatedly during the session, as the market weighed diplomatic efforts on the geopolitical stage against ongoing Black Sea export disruptions. The overall mood in the agricultural product sector remains affected by external uncertainties.

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Crude oil strengthens and the US dollar softens, ICE cotton rebounds from a three-week low

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