Friday, October 15, 2010

Tall Cotton

The headline from Wall Street Journal online:

Cotton Climbs to 140-Year High

NEW YORK—Cotton prices are at their highest in the 140 years the commodity has traded on an exchange, as heavy Chinese buying and poor harvests are expected to keep global supplies tight.
The article goes on to discussweather conditions (Pakistan's devastating floods and heavy rains in China). Recently, wheat, cattle, and a number of other commodities have had major runs. This is partly due to the weak dollar but also due to weather conditions. It is a safe prediction that meteorology will be an increasingly important science in the years to come. 

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