Slightly Erratic Rally Continues

By Jim.Robinson|October 27, 2009

Both the cotton and soybean markets continued to trend upward, although the moves have become slightly erratic.

At the close Monday, the ICE December ’09 contract was at 67.41 per pound. December of ’10 touched 74.45 before settling at 73.60. Since August, the ’09 contract has gained 9 cents, and the ’10 contract has gained 11.

On the Chicago Board of trade, November ’09 soybeans are up 90 cents from the first of September to $9.87 per bushel, and November ’10 is also up 90 cents to $9.72.

Using the spot month, this graph shows the percent changes in prices since January 1.