The October delivery cotton contract made a bottom extension at a daily-scale yesterday, so we would now buy it – probably the December contract. We also recommend buying corn now as the monthly-scale bottom extension is still ‘in date’ and there are signs (like this cotton extension) that these crop commodities are approaching the point at which they will fall no more. In the background, there is also a strong ‘El Nino’ as mentioned here several times. Charts:
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