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(March 15, 2002) COTTON: May cotton lost 11 points to 3870c per pound on trade selling even as funds starting buying. Good sales and shipments have taken prices up from their November lows but commercials, seeing to reduce inventories sold into the fund technical buying. We had liked cotton from earlier levels around 36c per pound but with such prominent resistance by commercials, we are now on the sidelines for the time being.

John L. Caiazzo
www.acuvest.com
E-mail: futures@acuvest.com

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