ICE cotton futures posted gains of 35 to 56 points across most contracts on Monday. Crude oil prices fell sharply after the United States and Iran reached a peace agreement over the weekend, with crude settling down $3.72 per barrel. The U.S. Dollar Index also declined by 0.285 points to 99.460.

Monday’s Crop Progress report showed that 86% of the U.S. cotton crop had been planted, which is 2 percentage points behind the average pace. About 19% of the crop had reached the squaring stage, 2 percentage points ahead of normal. Good-to-excellent crop ratings fell by 2 percentage points to 51%. However, the Brugler500 Index increased by 1 point to 346 as 3% of the crop moved from the very poor category into the fair category.

The Cotlook A Index rose by 110 points on Thursday to 84.75 cents per pound. ICE-certified cotton stocks remained unchanged at 192,699 bales as of June 12. The Adjusted World Price (AWP) declined by another 194 points last week to 61.26 cents per pound.