摘要
soybean prices. The drop in prices for crops that can compete for cotton acreage reduces the likelihood of an exodus from cotton when the planting season arrives this spring. Nonetheless, recent declines in cotton prices could be expected to result in important reductions in acreage in certain cotton producing countries. The mag- nitude of any shift in global cotton acreage could eventu- ally emerge as a factor affecting cotton prices. However, with world stocks at record levels, and with indications from the Chinese government that reserves would be released in response to upward price pressure, it could take several years for acreage-related forces to drive price direction.
Recent Price Movement Prices outside China were flat to lower last month,while the CC Index decreased in early April.Despite some volatility in late March,prices for the May New York futures contract have been trading at levels around 90 cents/lb recently,nearly equal to values one month ago.New York December futures have held to values around 80 cents/lb
