Cotton continues its (seemingly) relentless climb. Brokers who bought off Aussie farmers at $500/bale only 8 months ago can now sell at 170.13/lb=$850/bale!! Where7when will it end?? Growers who fwd sold at 500/bale and have reduced yields due to excess rain/cool summer will be in dire straits if forced to buy-back at spot prices. Farming can be a cruel game. I continue to hold TAN who have plenty water for at least next 2 years and opportunity to fwd sell at these exceptionally profitable rices. PAG has risen more than TAN so hard to say one is def a better buy than the other.
