ICE&Nbsp; US Cotton Prices Fell To A Week Low.

    Wednesday (3.24) dollar rebounded, weak external market dragged down ICE US cotton prices fell to a week low.

The most active contract fell 62 points in May, or 1.8%, to 28.33 cents per pound in recent months.

Since March, when 5 days hit a two-year peak of 84.60 cents, the price of cotton in May was roughly 80-84 cents. The reason for the sustained rise in prices is that the world's cotton demand is expected to exceed supply this year (August to July next year). The US Department of agriculture predicts that world cotton consumption will be 13% higher than that in the 2009-10 crop year.

On Wednesday, soybeans fell in Chicago stock exchange, while crude oil and metals weakened, creating a bear market environment that led speculators to sell cotton. The reason why the US dollar is stronger against the euro is that Greece's sovereign debt and Portugal's similar uncertainties have exacerbated the market's worries, and so most commodities have fallen.

Boyd, Senior soft goods analyst at Chicago's visual financial market, said cotton prices will continue to run sideways in the US Department of agriculture's report on planting intentions before March 31st, and there may be a small number of bull positions.

In the February outlook report, the United States Department of agriculture locked up 10 million 500 thousand acres of cotton in 2010, an increase of 15% over last year, and higher cotton prices after mid 2009, which may encourage farmers to expand cotton planting. The cotton supply is expected to be adequate next year, and the US Department of agriculture is expected to pack 16 million packs if the weather is good. Cotton is picked in autumn. The December contract corresponds to new cotton.

Peter Egli, director of the risk management department of Fenghuang cotton and cotton company, said that the textile factory bought cotton under 80 cents and 80 cents to support the May contract.

The exchange reported that on Tuesday, ICE's daily cotton inventories increased by 18101 (500 pounds) to 760852 gross packages, 40761 to be certified, and 90 to withdraw.

The exchange reported that ICE cotton holdings increased by 1093 to 189777 hands on Tuesday.

The exchange reported that there were about 15473 hands on cotton turnover in the near future. The options for trading in the field are about 4268 hands, and the put option is about 1278 hands.