According to Reuters and other news sources, IntercontinentalExchange’s new world cotton futures contract has cleared a significant legislative hurdle in the U.S.
A bill amending the U.S. Cotton Futures Act passed the House Agriculture Committee on June 17, removing the requirement that all cotton tendered under any U.S.-listed future contract be sampled and graded by USDA.
Read here for more details on the contract and how it will work.
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