(Bloomberg) -- Cotton fell in New York on
speculation U.S. farmers are less likely to switch acres to
other crops after futures reached a three-year high and a rally
in corn prices lost steam.
Cotton on July 16 climbed to the highest price for a most-
active contract since March 2004 after U.S. farmers cut seeded
acres by 28 percent from last year to 11.06 million. Many
switched to more-profitable corn, which has fallen 27 percent in
Chicago since reaching a 10-year high in February.
Read more at Bloomberg Commodities News
speculation U.S. farmers are less likely to switch acres to
other crops after futures reached a three-year high and a rally
in corn prices lost steam.
Cotton on July 16 climbed to the highest price for a most-
active contract since March 2004 after U.S. farmers cut seeded
acres by 28 percent from last year to 11.06 million. Many
switched to more-profitable corn, which has fallen 27 percent in
Chicago since reaching a 10-year high in February.
Read more at Bloomberg Commodities News
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