Cotton futures climbed toward 64.5 cents per pound, the highest level in a week, supported in part by rising crude oil prices, which increase the cost of polyester, a key substitute for cotton. The latest USDA export sales report showed 150,362 running bales sold in the week ending February 26, a decline of 40.6% from the previous week and 9.9% below the volume recorded in the same week a year earlier. In its March report, the International Cotton Advisory Committee (ICAC) projected global cotton production for 2026/27 to decrease by about 4% to 24.8 million tons, while global consumption is expected to hover around 25 million tons, signaling a slightly tighter market. Market participants now look to the March WASDE report for additional clarity on the global supply–demand outlook for the natural fiber.