Cotton.(AGRICULTURAL MARKETS)

Commodity Price Charts, December, 2005 by Roberts, Edward

March has recently violated support at its Aug/Sep UTL (.5241-.5253) but turned back up to post CC back above that UTL before hitting its next downside target at the Aug low of .4980. CC above the filled Nov gap at .5340 targets the Oct gap at .5630. Closing resistance above there lies at the Oct high of .5925. Note '05-'06 ending stocks were estimated at 6.90MM ba. by the USDA vs. the average trade estimate of 6.67MM ba.

SYMBOL=CTK

MAY.06 COTTON (NYCE)

Each Horizontal Line = 50 Points

1 Pt. = $5.00 Minimum Move: 1 Pts.

FND: 4-24-06 LTD: 5-8-06

OPTIONS EXPIRE: 4-13-06

High Low

05/14/04 11/17/04

6662 4910

ACCUMULATION & DISTRIBUTION

(As of Friday)

-257

Date...

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