CFTC Scrutinizing Cotton Futures: Reports

Law360, New York (June 2, 2008, 12:00 AM EDT) -- A week after revealing its investigation into the soaring price of crude oil, the U.S. Commodity Futures Trading Commission has planned a similar probe into the perplexing, irregular movement in the value of cotton futures over the past few months, according to reports.

Several subpoenas have already been issued in the confidential investigation of last March's massive spike and subsequent drop in the price of cotton, the Wall Street Journal reported Friday, citing sources familiar with the probe.

While inventories of the commodities backing most grain...
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