STAY AHEAD OF GLOBAL TEXTILE MARKETS
Timely market perspectives covering cotton, yarn, textiles, trade, logistics and key developments shaping global sourcing decisions.
November 2–6, 2026
U.S. cotton sales improved while shipments slowed and harvest stayed ahead of average. Freight indices eased, and a sharp WTI correction pulled China’s polyester futures lower before a mixed Friday close.
Data cutoff: November 6, 2026, 8:03 a.m. New York time (EST, UTC−5). Latest confirmed cotton and WTI settlements: November 5. China’s PTA, MEG and PSF figures are November 6 day-session closing prices, not settlement prices. This is a Friday-morning update, not a completed U.S. weekly close.
GLOBALEXIM’s opening-month view on prices, demand and sourcing conditions, as of November 6.
Lower raw-material costs, selective orders and route-specific logistics. Our November base case is uneven pricing rather than a broad recovery. Advanced U.S. harvest and slow cotton shipments should cap cotton rallies even as sales improve. In polyester, weaker feedstock futures and soft yarn demand limit mill pricing power, while low MEG inventories provide some support. Freight indices are easing, but individual Asian routes remain mixed.
Cotton · Yarn & Textiles · Trade & Logistics · Crude Oil & PSF
Texas A&M’s November 5 summary puts ICE December 2026 cotton settlement at 78.71 US cents/lb, 0.21 cent above October 29. USDA reports 277,500 running bales of net U.S. upland export sales for 2026/27 in the week ended October 29, up 28% from the previous week, while shipments fell 14% to a marketing-year low of 137,800 running bales. Better sales support the market, but slow movement and harvest supply limit upside.
CCFGroup’s November 2 review reports poor sales for China’s polyester yarn, with weakness spreading from pure-polyester to blended yarn and inventories rebuilding. Ring-spinning hubs in Fujian and Jiangxi were operating at only 40–60%. Production cuts have not restored processing margins, and the report found no near-term signal of broad demand recovery.
Drewry’s November 5 global WCI decreased 1% to US$4,389 per 40ft container, while its intra-Asia index fell US$26 to US$1,478 per 40ft container. Intra-Asia routes remained mixed: Shanghai–Singapore rose 9% while Shanghai–Jakarta fell 8%. These composite assessments are not quotations for a specific Vietnam shipment.
WTI December 2026 settled November 5 at US$90.52/barrel, down US$11.48, or 11.3%, from October 29. EIA reports U.S. commercial crude inventories fell 865,000 barrels to 409.76 million barrels in the week ended October 30. CCFGroup’s November 6 China futures closes were PTA January 2027: CNY6,120/t; MEG January 2027: CNY4,974/t; PSF January 2027: CNY7,804/t. The PSF lead contract changed from December 2026, so it is not directly comparable with last issue. These are futures—not physical mill offers; no comparable weekly physical-PSF benchmark was verified.
U.S. crop progress: USDA’s November 2 report puts cotton harvest at 63% as of November 1, versus the 2021–2025 average of 54%. Harvest is nine percentage points ahead of its seasonal average; this progress measure is not an assessment of harvested fibre quality.
Watch whether stronger U.S. cotton sales convert into shipments; whether polyester-yarn inventories and low operating rates stabilize; and whether lower PTA/MEG futures pass through to physical PSF offers. For oil, track verified Middle East supply flows and the next EIA inventory report. For freight, use executable lane quotations rather than composite indices alone.
Cotton — sideways bias. For ICE December 2026 over November 9–13, stronger net sales should balance pressure from shipments at a marketing-year low and harvest already nine points ahead of its five-year average. A clear shipment recovery with continued strong sales would shift this view upward; weaker sales after harvest advances would shift it downward. Physical-cotton basis and quality premiums can move differently.
Crude oil — downward bias with high volatility. For WTI December 2026 over November 9–13, the 11.3% decline from October 29 shows that easing geopolitical risk premiums and recovering supply flows currently outweigh the support from a modest U.S. inventory draw. Renewed verified disruption to Middle East flows would invalidate this view.
PSF — slight downward bias. For Chinese mill offers of virgin spinning-grade PSF over November 9–13, lower polyester-chain futures and weak yarn demand should create modest downward pressure, although low MEG inventories may slow pass-through. Sustained physical restocking, firmer spot feedstocks or mill production cuts would invalidate this view. This assessment is based on the full cost-and-demand chain, not crude oil alone; futures levels are not forecasts for physical offers.
These are GLOBALEXIM’s own market opinions as of November 6, 2026, for reference—not purchase, sale or investment recommendations. Views may change and do not guarantee price movements.
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Cotton, yarn and textiles, freight, crude oil and PSF, with GLOBALEXIM's outlook as originally published.
Read this issue →Cotton, yarn and textiles, freight, crude oil and PSF, with GLOBALEXIM's outlook as originally published.
Read this issue →Cotton, yarn and textiles, freight, crude oil and PSF, with GLOBALEXIM's outlook as originally published.
Read this issue →Cotton, yarn and textiles, freight, crude oil and PSF, with GLOBALEXIM's outlook as originally published.
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