Strength in cotton

The USDA today trimmed expectations for the cotton harvest, with a small reduction in the area to be harvested as well as a slightly reduced yield.

This put a bit of a bid in cotton which doesn't help our spread in the short term.

December cotton closed up 1.3% at 90.08 cents a pound in New York. 

This is the first time in 16 months, cotton has closed above 90 cents a pound.