Cotton Folks: Stay close to your computer this week

From Johnny Parker, Commonwealth Gin, Windsor, Virginia, in his web commentary on Friday:

"POP payment only dropped by just a few points and will remain at 7.66 through next Thursday. Even for cotton in the loan, the POP payment is used in calculating the value of how much more equity remains in the cotton. This coming week will be a good week to stay close to your computer. Most of us folks on the cotton production side of the cotton industry are hoping for some big price increases, both to finish up with this year's crop and to give us some incentive to plant as much cotton as we have been planting. Currently 100-bushel corn can make as much money on a piece of land as an 800-pound cotton crop in this region, so the price of cotton needs to go higher if it is going to be better than corn."