ICE Cotton No. 2 Futures Contract Sets Daily Volume Record
NEW YORK, Nov. 11, 2010 /PRNewswire-FirstCall/ -- ICE Futures U.S., a leading regulated U.S. futures exchange for global agricultural, equity index and currency markets, announced a new daily volume record for the Cotton No. 2 futures contract. 101,516 Cotton No. 2 futures contracts traded on the exchange on Wednesday, November 10, surpassing the previous record of 85,945 lots established on February 15, 2008.
Year-to-date, average daily volume in Cotton No. 2 futures is 22,288 contracts, up more than 58% from a year ago. Volume in the ICE soft commodities complex, which includes world benchmark contracts like sugar, coffee, cocoa, and cotton, is up more than 15% year-to-date through the end of October, reflecting increasing global demand for commodities.
The ICE Futures U.S. Cotton No. 2 futures contract is the leading benchmark for the global cotton trade, pricing physical delivery of U.S.-grown cotton to U.S. delivery points. The United States is the world's third-largest producer of cotton (behind China and India) and its largest cotton exporter.
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