Cotton above $1

Discussion in 'Ag Futures' started by benwm, Sep 20, 2010.

  1. benwm

    benwm

    Anyone trading Cotton No.2 on ICE?
    Seems to have broken above $1 in pre market trading...

    Does anyone know the daily price limit? I thought it was 3 cents but it seems to traded up to $1.0198 which is more than 3 cents above the prior day settlement.

    Is the day price limit 4 cents?

    Thank you in advance for any replies.
     
  2. benwm

    benwm

    ICE confirmed the daily price limit changed to 4 cents
     
  3. yes it is a $4 limit, watch out belowwww
     
  4. The higher it goes, the more "bearish" it looks. :eek: :(
     
  5. 1) it needs a breather
    2) these levels are not sustainable, I mean we saw what happened to the hedgers last time this happened.
     
  6. It is because of all the Quantative Easing. All that printing of dollars requires cotton.
     
  7. emg

    emg

    Cotton is above $1 man. less acre and more acre in the beans
     
  8. benwm

    benwm

    "We have the keys to the printing press, and we are not afraid to use them."
    - Ben Bernanke

    From Wikipedia:-
    Cotton paper is used in banknotes. Modern banknotes are typically made from 100% cotton paper, but can also be made from a mixture of 75% or less flax. Other materials may also be used and still be known as Currency paper. The US dollar is printed on cotton paper.

    Cotton bond paper can be found at most stores that sell stationery and other office products. Though most cotton paper contains a watermark, it is not necessary for it to have one.

    :)
     
  9. bone

    bone ET Sponsor

    The Calendar Spreads with Cotton and Sugar #11 are fantastic trades:

    [​IMG]
     
  10. LOL +2 :D
     
    #10     Sep 21, 2010