US cotton prices continued to surge above the boom days of 2010-11 after a massive crop estimate cut by the USDA, shocking Wall Street analysts and traders, due primarily to a megadrought scorching farmland of Texas, according to Bloomberg. Futures in New York for December delivery were up 4.5% to $1.
1359 a pound and up more than 21% this month. "I don't think you can put a top on prices right now," Louis Barbera, the managing partner for VLM Commodities, told Bloomberg. "I have been going to Texas for more than ten years, and…Cotton Prices Soar As Texas Megadrought Persists
Понравилась статья? Подпишитесь на канал, чтобы быть в курсе самых интересных материалов
Подписаться