ICE cotton futures declined ahead of the USDA’s weekly export sales report, scheduled for release on Thursday after a one-and-a-half-month delay due to the US shutdown. Traders were waiting for the report to gauge fresh demand. Weakness in cotton was also influenced by falling grains and crude oil prices.

ICE March 2026 cotton futures settled at 63.78 cents per pound, down 0.61 cent or 0.95 per cent. The contract marked its first close below 64 cents and set a new contract-low settlement. The December 2025 contract settled at 62.30 cents, down 27 points, raising concerns among bulls that December weakness could drag the March contract lower. March and July 2026 contracts also closed lower. For the week so far, cotton futures have posted net losses of 3–28 points across active months.

ICE cotton futures declined as traders await the USDA’s weekly export sales report, delayed for over a month due to the US shutdown.
March 2026 cotton hit a new contract low below 64 cents, while weak crude oil prices increased pressure by making polyester fibre cheaper.
Trading volume fell to a three-week low, with sentiment cautious despite expectations that export data may show stronger demand.

NYMEX crude oil futures declined due to reports of renewed diplomatic efforts to resolve the Russia–Ukraine conflict, which could ease supply risks. Losses in crude were partially limited by a larger-than-expected drop in US crude oil inventories, offering some support to energy markets. Lower crude prices make polyester fibre cheaper, adding pressure on US cotton.

Trading activity remained subdued, with 49,131 contracts traded, the lowest volume in three weeks, compared with 67,329 contracts cleared in the previous session. Intraday trade experienced mild consolidation and a brief upward pull, but the market failed to sustain momentum into the close.

ICE data showed deliverable No. 2 cotton inventories unchanged at 20,344 bales as of November 18, the same as the previous day.

Analysts said the market “was drawn slightly higher but failed to hold that momentum”. USDA’s weekly export sales report for the period ending October 2 will be released on Thursday. During the recent 43-day US government shutdown, the USDA suspended weekly export sales data and daily bulk-sale announcements, limiting demand visibility.

The upcoming USDA export sales report could be stronger than market expectations, but traders prefer to wait for confirmation.

In other markets, CBOT soybean futures closed lower as traders assessed demand prospects amid global uncertainty.

This morning (Indian Standard Time), ICE cotton for December 2025 was traded at 62.59 cents per pound (up 0.29 cent), cash cotton at 61.78 cents (down 0.61 cent), the March 2026 contract at 64.13 cents (up 0.21 cent), the May 2026 contract at 65.35 cents (up 0.32 cent), the July 2026 contract at 66.45 cents (up 0.33 cent), and the October 2026 contract at 67.11 cents (down 0.37 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.

Fibre2Fashion News Desk (KUL)

Bangladesh recently issued a gazette notification announcing a new ordinance amending the Labour Act, allowing trade unions to be formed with the consent of at least 20 workers.

The law required the consent of 20 per cent of the total workforce to form a trade union earlier.

Bangladesh recently issued a gazette notification announcing a new ordinance amending the Labour Act, allowing trade unions to be formed with the consent of at least 20 workers.
The law required the consent of 20 per cent of the total workforce to form a trade union earlier.
While the Bangladesh Labour Foundation hailed the move, apparel and textile industry leaders rejected the ordinance.

The Bangladesh Labour (Amendment) Ordinance, 2025, was issued by the legislative and parliamentary affairs department.

The number of workers in a factory who apply to form a trade union will be registered based on the total number of workers.

For establishments with 20 to 300 workers, at least 20 workers may apply; with 301 to 500 workers, 40 workers; with 501 to 1,500 workers, 100 workers; with 1,501 to 3,000 workers, 300 workers; and with more than 3,001 workers, 400 workers.

“This is more than just a legal update—it’s a major victory for our dignity and future, ensuring our labour governance is finally brought closer to international standards,” the Bangladesh Labour Foundation (BLF) said in a LinkedIn post.

The ordinance brings sweeping, essential changes that put the workers first, BLF noted.

For the first time, domestic and agricultural workers are explicitly included in key chapters concerning trade union rights, welfare and social security. Their essential work is now formally recognised and protected under the law, BLF said.

Paid maternity leave is now set at 120 days. The high-risk shipbreaking sector is now explicitly included under the definition of a regulated establishment.

“These reforms will strengthen our freedom of association and collective bargaining power, and they are vital for securing our jobs and reinforcing Bangladesh’s global trade standing,” BLF added.

Meanwhile, apparel and textile industry leaders have rejected the ordinance, saying several key provisions had been added to the law outside the consensus reached at the meeting of the Tripartite Consultative Council (TCC), according to domestic media reports.

They urged the government to immediately revise the relevant sections in line with the decisions adopted at the meeting.

Fibre2Fashion News Desk (DS)

The Federal Republic of Germany has pledged fresh financing of €0.5 million (~$0.58 million) to the World Trade Organization’s (WTO) Global Trust Fund to help developing economies and least developed countries (LDCs) enhance their participation in the multilateral trading system.

Carmen Heidecke, ambassador of Germany to the WTO, signed the memorandum of understanding on behalf of the German Federal Government at the WTO on November 17, 2025.

The funding supports the latest cycle of technical assistance under the WTO’s Global Trust Fund, which will finance training programmes that enable government officials to deepen their understanding of multilateral trade rules and strengthen the implementation of their WTO commitments, the organization said in a release.

Germany has renewed its support for the WTO’s Global Trust Fund, which finances technical assistance and training for developing economies.
The fresh contribution will bolster capacity-building programmes that equip government officials to better understand trade rules and implement WTO commitments.
Since 2001, the fund has enabled around 2,800 workshops.

Established in 2001, the Global Trust Fund has supported around 2,800 training workshops to date. Over nearly 25 years, Germany has contributed approximately CHF 27.1 million (~$33.88 million) to the fund, reaffirming its long-standing commitment to more inclusive and equitable global trade.

“I thank Germany for its longstanding support for WTO technical assistance and capacity building. This latest contribution reinforces our shared commitment to empowering developing countries and LDCs in the multilateral trading system. This support enables these members to strengthen their technical expertise and advance their trade priorities more effectively,” director-general Ngozi Okonjo-Iweala said.

“Greater participation of developing countries in global trade strengthens a fair and inclusive multilateral trading system. Germany is proud to reaffirm its commitment to the WTO’s Global Trust Fund,” ambassador Heidecke said.

Fibre2Fashion News Desk (HU)