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Cotton can be one of the most volatile commodities in the soft commodities sector. The price of cotton exploded to an all-time high at $2.27 per pound in 2011. The rise caused demand to decline dramatically. Clothing manufacturers in China substituted synthetic fibers for cotton because of the high price in 2011. A combination of the sky-high levels of cotton futures and demand destruction led to massive inventories. The price of the soft commodity fell like a stone reaching a low of 55.66 in March 2016. At the peak, there was enough cotton in warehouses