Chicago, long the world market for grain and livestock, has hitherto shown scant interest in cotton. This month, however, trading in cotton was for the first time in history inaugurated on the Chicago Board of Trade.
Production of cotton is more and more moving westward into the southwest; already Texas is overwhelmingly the leading cotton-producing state. Chicago brokers claim that the cotton market should accordingly move westward to Chicago. Yet the Chicago, like the New York, cotton market will presumably handle little actual cotton, and be primarily a "hedging" market in cotton contracts....
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