Colosseum a.s. (Colosseum a.s.)
Commodities  |  March 06, 2013 08:35:28

Cotton highest level since last May

ColosseumEven yesterday stopped runaway fiercely growing trend on cotton and thus reached the highest levels in the last 10 months. The reason for this growth is still the same, the expected decline in cotton production in the United States, the world's largest exporter of the commodity. According to estimates, this year, American farmers can be equipped with 9.4 million acres of cotton, while last year it was 12.3 million acres. It's the fact that many farmers in the United States transit from cotton growing on them lucrative crops, such as grain or soybeans. The May Cotton Exchange yesterday on ICE Futures U.S. rose by 0.8% to 86.98 cents per pound weight.

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