Colosseum a.s. (Colosseum a.s.)
Commodities  |  February 28, 2013 09:37:28

Cotton heading for the fourth monthly rise in prices in a number



ColosseumThe largest price increase in the last four months recorded in yesterday's trading session on the exchange ICE Futures U.S. The most active futures contract for cotton. It was a response to fears of weaker plantation commodities mentioned in the U.S. which is the largest world exporter of cotton. According to independent sources, farmers in Texas this year could be fitted cotton acres about 25% less than in the previous year, due to a greater focus on more profitable grains and oilseeds. According to the government report of February 22 drops planting cotton in the United States by 19%, while the field for growing soybean acreage is expected to increase by 0.4% to a new record. From June 4, 2012, when cotton reached 31-month lows, rose the most active futures contract price has increased by 31%. Cotton futures for the May delivery date strengthened during yesterday's trading session on the exchange ICE Futures U.S.about 3.1% to the closing price of 84.38 cents per pound weight. It was the biggest intra-day price increase since Oct. 17, and cotton and is heading for the fourth consecutive monthly increase in prices.

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