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China's demand for cotton spurs near-record bull bet for hedge funds
As prices head for biggest monthly advance since July, hedge funds are positioned for more gains
Add BT as a preferred sourcePublished Mon, Jan 30, 2017 · 09:50 PM
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New York
CHINA's voracious demand for cotton is sparking the fibre's best rally in six months.
Chinese buyers have committed to purchasing almost five times more American cotton than at this time last year, the US government said in a report this month. The price of the commodity is heading for its biggest monthly advance since July. Hedge funds are positioned for more gains, holding the second most bullish wager ever.
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