19 ICE Cotton Comment: Inflation Worries Stimulate The Cotton Market To Rise.
Thursday (3.19) ICE American futures exchange Cotton market Inflation has increased, speculators have been more interested in stimulating cotton market to become stronger, and inflation worries are releasing more popularity in commodity markets.
The May contract closed up 115 points, 42.87 cents per pound, and 112 points in July, at 43.75 cents a pound.
Today, the contract opened in May, and the purchase continued to flow, jumping 100 points in early trading. On Wednesday afternoon, the Federal Reserve announced the interest rate policy, signaling the implementation of inflation measures, and the dollar began to depreciate. Speculators jumped into the commodity market and regarded commodities as harbors to avoid inflation. In the middle of the day, cotton hit the highest point of 43.48 cents.
After the early morning market entered the market, much energy declined, and cotton slipped from high. Announced on Thursday US cotton exports Sales report shows that the decline in net sales of cotton in the United States has also weakened some market fundamentals. The cotton market has been strong, but it has taken a considerable part of the day's gains.
Analysts say that some commodities, including cotton, do not have basic support. Price Strong, but because of the Fed's actions.
Cotton continues to follow the peripheral market, but the May contract may continue to strengthen in more cautious energy, approaching 45 cents in April, as market participants are waiting for USDA's March 31st planting intention report released in March 31st.
Another analyst said that in May cotton would activate a buy stop point above 43.57 cents and 43.75 cents.
The exchange reported that on Wednesday, the ICE cotton day inventory was reduced by 2905 (500 pounds) to 225097 packets and 2277 bags to be registered.
The exchange reported that Wednesday's ICE cotton empty volume position increased by 2425 to 130490.
The exchange reported that there were about 13024 hand to hand options trading, about 2801 hands on call options and about 1652 hands on put options.
Closing price range 05 months 42.87 +115 42.40-43.48 07 months 43.75 +112 43.35-44.43 October 46.49 +112 point 46.19-46.80 December 48.10 +113 point 47.69-48.79
Editor in chief: Xu Qiyun
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