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Crops 2011; entered at 2011-02-10 21:29:31

Fidgit
Posts: 17784
Registered: 2008-02-18 Tax Unit #1,384,923,781

Quote:

Cotton futures hit fresh post-Civil War high

ICE cotton set a fresh post-Civil War high on concerns that rising prices for other commodities, like corn, may raise competition for acreage this planting season.

The USDA's monthly World Agricultural Supply and Demand Estimates left its forecast for cotton unchanged, but lowered its projection for corn. "Corn's up strong and cotton will have to defend acres," says John Flanagan, president of Flanagan Trading in North Carolina.

Meanwhile, the ongoing rally in cotton is putting continued pressure on apparel companies, and likely consumers. Cotton for March delivery closed up 3% to $1.8058/pound as a weaker dollar provided additional support.

http://www.agriculture.com/news/crops/co....

Last modified: 2011-02-10 21:30:07 by fidgit

2011-02-10 21:29:31


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