(See front cover) Ten minutes before the short Saturday session officially closed on the New York Cotton Exchange last week, a gong brought trading on the world's biggest cotton futures market to a silent halt. The U. S. Crop Reporting Board, having been locked in secret session in Washington since dawn, was about to release its first estimate of the U. S. cotton crop for the new crop year which opened Aug. 1. Trading also stopped on the country's other two cotton futures markets, in Chicago and New Orleans. On the spot markets...
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