Will global cotton stocks fall?

摘要

The general consensus appears to be that the supply of cotton available to mills through the remainder of the season will be tighter than seemed likely at the beginning of the year. It is this presumption, supported by recent developments in China, which many traders expect will influence a recovery in New-York futures above 90.00 US cents per lb in the short term. However, the supply and demand dynamics prevailing during 2013/14 are still much less clearly defined. For some time it has been assumed that the relative strength of prices for soybeans and corn would result in land being diverted away from cotton.