MI 14:30 Uhr USDA Prospective Plantings Report
erwartet: Cotton-Anbauflächen +6,5% gg. Vj
Daten werden die Stimmung bei Cotton im Q2 prägen
The 92 percent gain in 12 months has made cotton the most expensive relative to corn and soybeans since 2006. That’s leading growers to boost harvested acreage 6.5 percent in the year starting Aug. 1, said Matt Robinson, a director at Cotlook Ltd., a Birkenhead, U.K.-based industry researcher. U.S. output will jump 29 percent in the coming year, the most since 1988, the Department of Agriculture said last month.
“We are going to make a monster crop,” said Sharon Johnson, a senior cotton analyst at First Capitol Group LLC in Atlanta, who expects a “long, steady decline” in New York futures for December delivery. The March contract may drop as much as 21 percent to 60 cents a pound by Dec. 31, said Johnson, who has advised investors on cotton for more than 20 years.