ICE cotton rebounds 4.15% as Vietnam boosts US imports, speculative buying lifts sentiment

ICE cotton futures increased on Monday, reversing early losses as bargain hunting and short covering lifted the market. The May 2025 contract climbed by 4.15 per cent to settle at 65.99 cents per pound, marking a strong rebound after recent declines. The rally was also underpinned by renewed trade interest from Vietnam, the top importer of US cotton this year. According to the latest USDA data, Vietnam has already imported over 1.4 million bales of Upland cotton in 2025, reinforcing its critical role in US cotton demand.

Despite this bullish momentum, US cotton planting progress remains sluggish. Only 4 per cent of the crop had been planted as of April 6, falling behind last year’s pace of 5 per cent and the five-year average of 6 per cent. Traders are closely monitoring the slow planting progress amid ongoing market volatility.

Elsewhere in the commodity market, agricultural futures presented a mixed picture. Soybean and wheat prices gained, while corn futures slipped on expectations of increased US planting acreage.

Market sentiment for cotton remains cautious yet reactive to short-term speculative activity and trade developments. Vietnam is reportedly negotiating with the US to delay certain tariffs, which could further influence demand and support ICE cotton prices in the coming weeks.