Futures Market News
Texas drought benefits cotton futures
Jul 19, 2011 09:39 AM
Inclement weather in Texas is driving cotton futures higher in price for the first time in four days, Bloomberg reports.
The Lone Star State, top producer in the top-producing nation, is enduring what is believed to be the most severe drought in more than 100 years. Twenty-eight percent of cotton crops in the U.S. ranged from good to excellent this past Sunday as compared to 68 percent on the same date during the year prior.
"The weather fears are back," president Sid Love of Joe Kropf & Sid Love Consulting Services in Kansas told the news service. "Overall strength in the commodities market is also helping cotton."
At 10:10 a.m. on Tuesday, cotton futures gained 4.13 percent, a .04 cent rise to $1.0084 per pound.
The International Business Times reports sales cancellation pushed down prices for cotton futures last week while the U.S Agriculture Department has not indicated significant demand for export during the past month. Rather, cancelled sales indicate demand potential was overdone and India is selling cotton at prices lower than those of the U.S.
Don’t Miss Our News Updates!
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: Wealth Empowerment Guide
Learn how to trade commodity futures and options using funds from an IRA or 401(k)!
Is your IRA parked in some mutual fund, going nowhere? Why not take control? Trade futures direct with a broker, trade online, and even invest in a managed account with a Commodity Trading Advisor. We are here to help!
Special Offer
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.






