ICE cotton futures posted gains ranging from 35 to 184 points on Tuesday. Crude oil fell by $4.08 to $76.67 per barrel, while the U.S. Dollar Index declined by 0.071 points to 99.305.

Monday’s Crop Progress report showed that 86% of the U.S. cotton crop had been planted by Sunday, 2% behind the average pace. About 19% of the crop had reached the squaring stage, 2% ahead of normal. Good-to-excellent condition 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 very poor to fair condition. Texas conditions improved by 5 points, while Georgia gained 2 points.

Western Texas and the Panhandle region are expected to experience a drier weather pattern over the coming week. In contrast, the eastern half of Texas through Georgia is forecast to receive heavy rainfall, with some Gulf Coast areas potentially seeing double-digit rainfall totals.

The Seam reported sales of only 396 bales on June 15 at an average price of 68 cents per pound. The Cotlook A Index rose by 30 points on June 15 to 85.05 cents per pound. ICE certified cotton stocks remained unchanged at 192,699 bales. The Adjusted World Price (AWP) fell another 194 points last week to 61.26 cents per pound.