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(March 7, 2002) COTTON: Lackluster, directionless, aimless, comatose, I think you have the idea. I find the chart very inconclusive for now. According to a University of Missouri think tank study, cotton planting could crop by 8% or more if plans to keep subsidies to $275,000 per year per farmer take root. Well, we'll see. Otherwise, cotton is a market desperately in search of market-moving news. William Dunavant, an influential cotton trader, sees the U.S. cotton crop at 14.46 million acres versus his previous forecast for 14.6 million acres. He also sees cotton trading in a range from 3450-3850. More of the same, in other words.

M. Steven Morgan
www.commodityreview.com

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