1. The "basis" is the difference between the cash price and the futures price. The port basis would be the difference between the cash price for the commodity at the port and the futures price.
2. See 1
3. It depends. Generally speaking its not a problem dealing with the bigger players. A...
The recent strength seems to be coming from fund money that believes that Cotton is undervalued (relative to other commodities). Cotton is benefiting from a general increase in investment funds going into commodities (take a look at the rising open interest)
The market also expects a...