Bulls In Charge of Cotton-Price Run

By Jim.Robinson|September 7, 2010

Cotton for December 2010 delivery rose to 92.82 cents per pound Tuesday morning – the highest since March 5, 2008 – before falling back to 91.76, up 2.31 points.

December of 2011 was at 81.30, up 95 points.

On Friday, World trading giant Plexus Cotton Limited said the current uptrend has plenty of momentum and is supported by both technical and fundamental factors, and is attracting additional speculative longs which are overwhelming the trade’s ability to keep up on the short side

Plexus said at the moment it sees no opposing force strong enough to halt this trend and expects it to continue.