Speculators cut net long positions in ICE cotton futures by 3,164 contracts to 53,932 in the week to April 6, data from the Commodity Futures Trading Commission showed on Friday.
As the soybean season draws to a close, Brazilian farmers were able to finish planting their second corn crop, as much of it is grown in the same areas as the oilseeds, AgRural said.
The US soybean crush likely fell to 4.952 million short tons in February, or 165.1 million bushels, according to the average forecast of nine analysts surveyed by Reuters ahead of a monthly USDA report.
Consultancy Strategie Grains on Thursday lowered its monthly forecast of soft wheat exports from the European Union and Britain in the 2020/21 season by 900,000 tonnes to 25.2 million to take account of a drop in demand, notably from China.