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Commodity markets differ from stock markets in that the commodity market is more obviously susceptible to the law of supply and demand. Last week, for example, cotton futures (March) advanced from 20.45 (cents per pound) to 21.39. Large Wall Street interests were reported long on cotton. Cotton Exchange seats advanced to the high mark of $41,000. Like copper (TIME, Feb. 18) cotton was bullish. And, also like copper, cotton prices showed the result of an excellent "statistical condition." The statistical condition of a commodity is simply the relation between the supply of...
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