ICE No. 2 Cotton
April 9, 2026
Open High Low Settle Change
May '26 71.47 73.34 70.85 73.26 +159
Jul '26 73.47 75.39 72.95 75.32 +174
Oct '26 - - - 76.95 +153
Dec '26 75.29 76.92 74.90 76.87 +140
Mar '27 76.24 77.67 75.79 77.62 +132
May '27 76.38 77.92 76.13 77.87 +130
Jul '27 75.59 77.13 75.59 77.03 +121
Oct '27 - - - 73.75 +121
Dec '27 71.35 72.46 71.13 72.32 +86
Mar '28 - - - 73.68 +80
ICE estimated futures volume: 135,500
5月限は寄付から小安く推移していたが、米国早朝から上昇。
結果、前日比159ポイント高の73.26/lbで引けた。推定出来高は135,500枚。
【相場動向要因】
綿花相場は米国農務省から発表された週間輸出成約報告で堅調な需要なうかがえたことで、高値を更新して引けた。
その後に発表された需給報告は、先月の数字から大きな修正はなく、相場への影響は限定的。
週間輸出成約は25/26年の新規成約31.96万俵、船積34.27万俵と堅調。
主要な仕向け先はベトナム、トルコ、パキスタンで、需要の強さでの価格上昇を裏付けた。
4月度の需給報告では25/26年度の米国需給は先月から据え置き（生産1,392万俵、輸出1,200万俵、期末在庫440万俵）。
世界では生産が約90万俵上方修正（インド・中国・パキスタンが各+30万俵）。
消費も56万俵上方修正（中国+50万、インド+50万）だが、
ベトナムとバングラデシュが各20万俵下方修正で一部相殺。
主にインドの期首在庫増が影響で世界期末在庫は約65万俵上方修正された。
詳細は以下の通り:
米国農務省週間輸出報告
U.S. Export Sales and Shipments: Upland, Pima Cotton - Apr 9
Thu Apr 09 08:39:30 2026 EDT
For the week ended Apr 02 in thousand running bales. Source: USDA.
The current marketing year for cotton begins Aug 1.
Totals may not add due to rounding.
(2025-2026) (2026-2027)
=====current marketing year===== ====next year====
Week's net Week's Season's Season's Week's net Season's
Change in Export Export Total Change in Total
Commits Shipments Shipments Commits Commits Commits
==upland==
BANGLADESH 18.7 32.1 459.1 761.7 5.3 28.1
BELGIUM 0 0 0.3 0.3 0 0
CHINA 8.9 39.0 329.2 512.1 0 114.7
COLOMBIA 0 0 4.7 4.7 0 0
COSTA RICA 4.4 0.5 36.7 70.2 13.2 22.6
DJIBOUTI 0 0 2.5 2.5 0 0
ECUADOR 0.0 0.3 23.7 38.8 0 0.6
EGYPT 0 0 11.2 16.7 0 0
EL SALVADOR 0 0.9 98.2 207.2 0 58.1
GERMANY 0 0 1.8 2.0 0 0.3
GUATEMALA 0.0 2.7 133.0 236.8 0 64.6
HONDURAS 1.3 2.7 168.4 291.0 0 44.8
HONG KONG 0 0 0 8.8 0 0
INDIA 24.2 37.1 402.8 555.8 0 0
INDONESIA 17.2 15.6 262.0 423.2 9.3 100.8
ITALY 1.1 0.7 8.2 12.0 0 0
JAPAN 4.8 0.4 50.4 84.1 -25.0 18.8
KOREA REPUBLIC 1.6 0 64.0 110.7 6.5 12.6
MALAYSIA 0.1 7.2 159.2 274.5 0 96.8
MEXICO 1.2 12.9 388.7 598.2 0 280.8
NICARAGUA -1.3 0.2 56.4 86.3 0 28.0
PAKISTAN 36.0 32.9 745.9 1171.7 0 38.2
PERU 0.3 3.5 108.4 139.2 0 12.8
PORTUGAL 0 0 4.8 9.7 3.5 7.0
SRI LANKA -0.4 0 0 0.1 0 0
SWITZERLAND -3.7 0 0.6 1.1 0 0
TAIWAN 0 0 36.2 46.4 0 0
THAILAND 4.7 3.3 90.1 158.1 1.3 9.2
TURKEY 67.8 24.5 540.7 961.3 0 100.9
VENEZUELA 0.0 0 5.3 6.9 0 0
VIETNAM 132.5 126.2 2210.4 3442.0 0 86.6
TOTAL KNOWN 319.6 342.7 6403.0 10234.0 14.1 1126.4
TOTAL UNKNOWN 0 0 0 13.5 0 22.0
GRAND TOTAL 319.6 342.7 6403.0 10247.5 14.1 1148.4
==pima==
BAHRAIN 0 0 0.4 0.4 0 0
BANGLADESH 0.5 0.5 7.2 9.1 0 0
BELGIUM 0 0 0.3 0.3 0 0
CHINA 2.9 0.4 29.1 47.5 0 0
COLOMBIA 0 0 2.6 10.6 0 0
COSTA RICA 0 1.3 8.7 8.7 0 0
DJIBOUTI 0 0 0 1.3 0 0
EGYPT 0 0 11.6 12.5 0 0
GERMANY 0.1 0 0.4 0.6 0 0
GUATEMALA 0 0 1.4 1.6 0 0
INDIA 1.4 4.3 95.4 130.9 0 0
INDONESIA 0 0.1 2.8 3.1 0 0
ITALY 0.0 0 0.3 3.5 0 0.5
JAPAN 0.4 0 1.4 1.8 0 0
KOREA REPUBLIC 0 0 0.7 0.8 0 0
MALAYSIA 0 0 0.5 0.5 0 0
MEXICO 0 0 0.1 0.2 0 0
PAKISTAN 0 2.8 17.6 28.4 0 0
PERU 0.2 1.2 11.3 15.7 0 0
PORTUGAL 0 0 0.3 0.3 0 0
SLOVENIA 0 0 0.1 0.4 0 0
SPAIN 0 0 0.1 0.1 0 0
TAIWAN 0 0 0 0.1 0 0
THAILAND 0.9 0 7.5 9.0 0 0
TURKEY 0 0 3.1 4.0 0 0
VIETNAM 0.1 0 48.7 72.3 0 0
GRAND TOTAL 6.5 10.6 251.7 363.5 0 0.5
米国農務省需給報告
World Cotton Supply and Use 1/
(Million 480-pound bales)
==============================================================================
beginning domestic exports ending
stocks prod imports use loss 2/ stocks
==============================================================================
2025/26 (Projected)
World
Mar 73.76 120.99 43.91 118.58 43.91 -0.22 76.39
Apr 74.07 121.87 43.75 119.14 43.72 -0.22 77.04
World Less China
Mar 38.92 85.49 38.31 79.08 43.84 -0.22 40.02
Apr 39.23 86.07 37.75 79.14 43.65 -0.22 40.48
United States
Mar 4.00 13.92 0.01 1.60 12.00 -0.08 4.40
Apr 4.00 13.92 0.01 1.60 12.00 -0.08 4.40
Total foreign
Mar 69.76 107.08 43.90 116.98 31.91 -0.14 71.99
Apr 70.07 107.95 43.74 117.54 31.72 -0.14 72.64
Major exporters 4/
Mar 25.37 58.76 5.45 34.83 28.51 -0.16 26.41
Apr 25.69 58.99 5.65 35.33 28.39 -0.16 26.77
Central Asia 5/ Mar 2.91 4.81 0.20 3.94 1.42 0.00 2.57
Apr 2.91 4.81 0.20 3.94 1.47 0.00 2.51
Afr Fr Z 6/ Mar 1.37 4.03 3/ 0.11 4.07 0.00 1.23
Apr 1.37 4.03 3/ 0.11 4.07 0.00 1.23
S Hemis 7/ Mar 11.44 26.01 0.15 4.51 21.28 -0.16 11.96
Apr 11.45 25.93 0.15 4.51 21.28 -0.16 11.89
Australia Mar 4.79 4.50 3/ 0.00 5.70 -0.16 3.75
Apr 4.80 4.50 3/ 0.00 5.70 -0.16 3.76
Brazil Mar 3.42 19.50 0.01 3.40 14.50 0.00 5.02
Apr 3.42 19.50 0.01 3.40 14.50 0.00 5.02
India Mar 9.22 23.50 4.00 25.00 1.40 0.00 10.32
Apr 9.52 23.80 4.20 25.50 1.20 0.00 10.82
Major Importers 8/
Mar 42.11 45.42 35.62 77.60 2.29 0.02 43.24
Apr 42.11 46.08 35.32 77.70 2.25 0.02 43.54
Mexico Mar 0.31 0.57 0.65 1.20 0.10 0.02 0.21
Apr 0.31 0.57 0.65 1.20 0.10 0.02 0.21
China Mar 34.84 35.50 5.60 39.50 0.08 0.00 36.36
Apr 34.84 35.80 6.00 40.00 0.08 0.00 36.56
European Union 9/ Mar 0.20 1.20 0.45 0.48 1.14 0.00 0.22
Apr 0.20 1.20 0.45 0.48 1.10 0.00 0.27
Turkey Mar 1.28 3.00 4.50 6.80 0.90 0.00 1.08
Apr 1.28 3.05 4.50 6.80 0.90 0.00 1.13
Pakistan Mar 2.10 5.00 5.50 10.60 0.05 0.00 1.95
Apr 2.10 5.30 5.20 10.60 0.05 0.00 1.95
Indonesia Mar 0.41 3/ 1.90 1.90 0.02 0.00 0.40
Apr 0.41 3/ 1.90 1.90 0.02 0.00 0.40
Thailand Mar 0.11 3/ 0.48 0.48 0.00 0.00 0.11
Apr 0.11 3/ 0.48 0.48 0.00 0.00 0.11
Bangladesh Mar 1.71 0.15 7.90 8.00 0.00 0.00 1.77
Apr 1.71 0.15 7.70 7.80 0.00 0.00 1.77
Vietnam Mar 1.02 3/ 8.00 8.00 0.00 0.00 1.02
Apr 1.02 3/ 7.80 7.80 0.00 0.00 1.02
==============================================================================
