This Is What Sent Cotton Up
No change from the Fed today, as expected, and a decent rally in the indices.
March Cotton was up almost 4% to 50.63; rain in the Southeast has brought
production estimates down.
Cocoa rose again as tensions increase in the Ivory Coast. July Cocoa was up
$42 at $2,057.
March crude was up .54 at $27.40, ahead of the OPEC meeting on Thursday. The
Saudi oil minister said he wants to hold back production. In Venezuela, where a
labor strike is paralyzing the oil industry, President Chavez said he is
thinking about calling an election. January Heating Oil rose 1.37 to 77.19.
In the grains, March Corn was up 1.50 to 238.25, January Beans were up 2.00
to 564, and March Wheat lost 8 to close at 349.50.