DJ MARKET TALK: ICE Cotton Hits 2-Year Top On Speculative Buying

September 01 2010

DJ MARKET TALK: ICE Cotton Hits 2-Year Top On Speculative Buying

1459 EDT [Dow Jones] - ICE Dec cotton rallied to a two-year high of 87.90
cents Wednesday, underpinned by gains across commodities as speculative fund
traders bought. A rallying crude oil market and more than 2% gains on Wall
Street provided a bullish market atmosphere on the heels of
stronger-than-expected US manufacturing data. Volume is estimated at 12,243
contracts, with 11,086 calls and 8,096 put options traded. Most active Dec
cotton rose 1.21 cent, or 1.4%, to 87.41 cents a pound.

Source: FutureSource.com