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ICE cotton futures traded above $1.48 per pound, their highest since 2011, amid severe West Texas drought and continued Chinese demand for US supplies. Higher oil prices and farmers switching acreage to soybeans and corn are also cited.
Tight US cotton supply and acreage shifts to competing crops support cottonseed meal and cottonseed values, while higher energy costs add to input pressure.
finance.yahoo.comInes FerréApr 29, 2022Not enough comparable past events yet for a historical read.
After 445 past neutral weather events, CORN moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 324 past neutral weather events, SOY moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
