Stay in high cotton with high cotton

摘要

OLD-CROP cotton stocks are squeaky-tight. So are projected ending stocks of almost all other crops. Tight world supplies of everything mean the battle for acres this spring will be intense. Given huge weather uncertainties, December 2011 cotton futures could trade anywhere from 95 cents to 2 a pound. Futures for 2011-crop cotton are trading at historically lofty levels as measured against anything except 2010-crop futures. When the market is at historically high prices, doing something to capture a piece of the action on some of the crop seems wise.