Colosseum a.s. (Colosseum a.s.)
Commodities  |  January 25, 2013 08:35:28

Cotton yesterday strongly more expensive



ColosseumYesterday cotton futures continued growth in a long series, it was the seventh increase in a row and at the same time so far from this series strongest. This rise is followed by estimates suggesting that the cotton crop in the U.S., which is its largest exporter this year at only 14 million bales. In the previous season, while it was 17 million bales. Many local farmers is transferred to the cultivation of other crops deemed economically lucrative. Among these are now as corn or soybeans. Also in China, the demand for cotton is likely to exceed supply. The March cotton yesterday on ICE Futures U.S. more expensive by 3% to 82.89 cents per pound weight. Before that, during the day, but the price was temporary and the value of 84 cents per pound of weight.

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