Cotton On-Call Report

|                                Weekly Report No. 22
|
|      "On call" positions in spot cotton based on New York Cotton futures
|      reported by merchants in special account status 1/ as of  5/30/2003
|
|                                 (In Contracts)
|
|-------------------------------------------------------------------------------
|            |                                           |    Open Futures
|            |        Call Cotton Based New York         | Contracts - New York
|            |                                           |   Cotton Exchange
|Futures     |-------------------------------------------|----------------------
|            |  Unfixed |  Change  |  Unfixed |  Change  |  At      |  Change
|Based       |  Call    |  From    |  Call    |  From    |  Close   |  From
|            |  Sales   |  Prev.   |  Purchs. |  Prev.   |          |  Prev.
|On:         |          |  Week    |          |  Week    | 5/30/2003|  Week
|-------------------------------------------------------------------------------
|July     '03      2,570       -169      1,081          9     34,194    -1,197
|October  '03      2,507       -429        267         -4      3,085       727
|December '03      6,081       -183      6,225        153     29,348     2,434
|March    '04      6,692         74      1,096          0      5,016       508
|May      '04      3,857         12         23         -1      1,902       274
|July     '04      5,200        -52         23          0      1,686       251
|October  '04      1,445        200         14          0          1         0
|December '04      1,155        -32         21          0        202        49
|March    '05        115          0          0          0          0         0
|             ------------------------------------------------------------------
|   Totals:       29,622       -579      8,750        157     75,434     3,046
|-------------------------------------------------------------------------------
|
|1/ Merchants with futures positions of 50 or more contracts in one future.
|
|
|This report is published by the Commission's Division of Market Oversight.
|If you have any questions concerning this report, call Vincent G. Varisano,
|Industry Economist, Eastern Region at (646) 746-9775.
|
|Released after 3:00 p.m. Eastern Time
|6/5/2003
|
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