And yet another all-time record high from cotton overnight! Cotton surged 3.9% closing limit-up of 5c/lb. Now at US1.342/lb. If u thought the price of tin was rising fast... well cotton has blown it away. Only commodity able to match cotton has been sugar which broke-thru 30c/lb last night. The high AUD does mean local growers don't receive full benefit from these 2 raging commodities, but price rise has far exceeded the currency appreciation. PAG and TAN are looking at exc crop this summer with irrigation ensuring a big yield.
