Home >

ICE Cotton Picking Up And Picking Up Is Still Not Good.

2010/12/9 13:55:00 44

Get rid of the sharp rise in the electronic disk, continue to consolidate the rebound to the high platform.

International market trend overnight

Electronics

The market trend is totally different. The commodity market has all recovered. Most of the stock markets have closed up. The ICE cotton picking up and recovering 130 cents important juncture, the paction is still not prosperous, but technically, in the consolidation of the 128-135 cents interval platform above the average.

In the international market, there is a lack of effective guidelines for the current round of discussions on the US tax cuts. This Monday, the US government extended the 2 year tax reduction policy in the Bush era and provided 13 months of assistance for the long-term unemployed. Economists believe that this policy will help increase tens of thousands of jobs in the next two years and at least increase the economic growth by 0.7% in 2011.

However, the US Treasury bond market slipped on Wednesday, and the interest rate of the 10 year treasury bonds rose to a high level since June. Investors worried that the United States did not plan to solve the budget deficit problem. The price of treasury bonds began in September 2008, the biggest two day decline since Lehman Brothers filed for bankruptcy.

In terms of international agricultural products, after the recent macro guidance, people seem to have ignored the basic supply and demand data. For the USDA monthly report to be announced on Friday night, international commodities are gradually beginning to reflect, and also caused yesterday evening.

Commodity trend

From the overall perspective, corn, soybeans, wheat and cotton are likely to continue to reduce supply. Cotton needs to pay special attention to China's output and the adjustment of India's output. Export data are concerned about changes in India and the United States.

Zheng cotton opened yesterday to shake up, finishing 30 minutes before the overall commodity market was down.

cotton

Leading low, close to the position of 26300 yuan in the near future, the basic spot spot obviously stabilized, the textile enterprise inquiry price increased, the market has changed, the capital plane yesterday long, including Guotai Junan, Yongan, Zhejiang, Zhejiang merchants futures have withdrawn, but the new single low intervention will not reduce, the early part of the empty part of the reduction, the new Shanghai mainland to increase short positions obviously, in the aggregate, does not support the sharp drop in the market, 2.6-2.8 million range is still valid, quick callbacks can be more than one unit.

(pioneering futures Dong Shuangwei)

Cotton futures have gone up and down, investors pay attention to the USDA supply and demand report

According to the news of New York on December 8th, cotton futures on the Intercontinental Exchange (ICE) were mixed on Wednesday, and market participants were preparing for the US Department of agriculture's monthly demand and supply report on Friday.

Index ICE the cotton contract in March was 1.58 cents higher, at $1.3195 per pound, and the trading range was 1.2642-1.3372 dollars.

Other contracts fell by 2.60 cents to 0.89 cents.

Preliminary data show that the total turnover is about 24762 hands on Wednesday, compared with an average of about 35335 on the 30 day and nearly 33% lower.

Sharon Johnson, senior cotton analyst at Penson Futures in Atlanta, said on Wednesday that the trend of cotton futures was volatile and trading was weak and the market volatility was widened.

Analysts say cotton futures are boosted by a combination of business and investor buying.

Traders say the market is waiting for the US Department of agriculture to announce weekly export sales report on Thursday and Friday's monthly supply and demand report.

It is estimated that last week the US exported 300000-400000 bales of cotton exports, compared with 636900 packets a week ago.

Analysts say the market is also waiting for the monthly supply and demand report to be adjusted. If the US Department of agriculture's supply and demand report shows that the supply of cotton is tight, the market rally may reignite.

China's cotton prices did not inspire the market. Zheng cotton's cotton contract fell 550 yuan in May, at 26360 yuan per ton.

India's trade minister said on Wednesday that India will decide next Monday whether to give cotton exporters more time to export 5 million 500 thousand bales of cotton.

Market participants will focus on cotton planting forecasts in the spring of 2011, such as the United States and China, which will focus on whether the two countries can produce more cotton.

Informa Economics raised US cotton planting estimate to 12 million 200 thousand acres in 2011, a four year high, which is 12% higher than that of 2010 cotton sowing area of 10 million 909 thousand acres.