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ADZ - The Peak Season For Cotton Prices Is Approaching
DB Agriculture Short ETN due April 1 2038
Cotton was looking like it was prepared to take off on the upside in mid-January. The price of the fluffy fiber that trades in the futures market on the Intercontinental Exchange moved over 70 cents per pound in early January since May 2019. Like many other commodities, cotton had been a victim of the ongoing trade war between the US and China. Both countries are significant producers of the fiber, but China is one of the world's leading consumers.
The price of cotton rose to an all-time high of $2.27 per pound in 2011. Before