Certificated cotton stocks deliverable against New York Board of Trade's (NYBOT) No 2 cotton futures contract as of May 2 totalled 716,729 (480-lb) bales, from 712,701 bales the previous session. There were 3,282 bales issued, 3,806 bales were awaiting review and no bales decertified.
While, "corn is leading the way again and there's nothing other than weather driving it," said Mario Balletto, analyst for Citigroup. Near midsession, Chicago Board of Trade corn futures were up 3 percent, with May up 11-1/2 cents per bushel at $3.83-1/2. Wheat was up 1 to 4-1/2 cents per bushel, with May up 4 at $4.83-1/2, and soybean futures were up 7 to 8-1/2 cents per bushel, with May up 6-1/4 at $7.40-1/2.
US corn producers are trying to plant the largest corn area since 1944 because corn prices are at 10-year highs, boosted by surging demand for corn from the ethanol industry.