The United States Department of Agriculture (USDA) forecasts the 2022/2023 cotton planting area in the United States to be 3.01 million hectares. According to preliminary estimates, this is 27.6% less than in the previous season 2021/2022. Cotton production in the US may decrease by 16.3% to 4.04 million tons. Note that according to the USDA, world cotton production this season may increase due to a good harvest in China, Australia and some other, smaller producing countries. Theoretically, a reduction in the US cotton crop could support quotes. The US is the world's largest cotton exporter and accounts for just over 30% of global exports. Brazil is in 2nd place (19.4%) and Australia is in 3rd place (15.4%).
| Indicator | VALUE | Signal |
|---|
| RSI | | Sell |
| MACD | | Sell |
| MA(200) | | Sell |
| Fractals | | Buy |
| Parabolic SAR | | Buy |
| Bollinger Bands | | Sell |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 82,2 |
| Stop loss | Below 72,2 |