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THE WINDY CITY TRADER
P.O. Box 1673, Chicago, Illinois
(November 25, 1997) COTTON: Cotton is showing signs of a bottom. Demand has increased and we are starting to enter a period of seasonal strength. The world sugar council recently upped the production forecast from 16.45 million tons to 17.036 million tons. Don't be fooled by recent rallies in orange juice. It is all speculative buying based on a potential El Nino scare in Brazil. Barring a frost, Florida expects a record crop this year.
The risk of loss in futures and options can be substantial. Therefore, only genuine risk funds should be used. The risk of loss in buying options on futures can result in the total loss of premium paid plus transaction costs. Selling, or writing options to collect premium can result in the option writer being assigned a futures contract.
Stephen Connell and William Frejlich
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