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Ag Market Network & cotton producers to gather at NYBOT

11
Jun '07
The opening is seconds away, and traders are already shouting across the pit and scrumming for position. When the bell rings, a game of mental rugby begins. Cotton prices are pushed and pulled by young locals, who hold their ground with yells and elbows. Paper swirls around the floor like tufts of spike-loosened grass.

Circling the fray, floor reporters jab away at IPACs, which communicate through wireless antennas directly to a supervisor's screen. Above the wrangling, the supervisor somehow straightens the mess out real time. There is no tomorrow in the cotton pit at the New York Board of Trade, only the rise and fall of adrenaline.

Price discovery is not for the faint of heart. U.S. cotton producers and marketers have the opportunity to witness this daily event, and perhaps try their hand at it, July 12-13, when the Cotton Forum convenes in New York City Attendees will participate in an orientation at NYBOT, for an inside look at how the exchange operates, followed by a mock trading session on NYBOT's trading floor before heading out that evening to Shea Stadium for a baseball game between the New York Mets and the Cincinnati Reds.

On July 13, at NYBOT, a panel of experts will bring cotton producers up to date on the latest cotton fundamentals and provide an outlook for the future and pricing strategies. Special guest speaker at the Roundtable is Joe Nicosia, president and CEO, Allenberg Cotton Co.,Memphis.


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