In an article written on March 6th in the Delta Farm Press, an outstanding regional publication for Delta farmers, by Elton Robinson, CEO of Allenberg Cotton Co. Joe Nicosia was addressing cotton producers attending the Mid-South Farm and Gin Show in Memphis. Here are the key points he illustrates with a few direct quotes:
1) Cotton outlook is great for 2009-10
2) "Hang on long enough and prices are going to compete with those of corn and soybeans, Nicosia said. 'In 2009, we start to tighten the balance sheet. We have lower acreage this year, which will decrease our crop size. If we have crop problems somewhere else, it could get interesting. Cotton is going to have to rise to a certain level to compete with the other crops.'" - Sounds pretty promising
3) “To me, if you want to be long cotton, don’t be long in the spot month. Roll it out to the deferred levels and that’s where you’re going to take your real values." - Wow... I mean, I really don't have to interpret this one now do I.
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