Xiangcai Prayer Year: Cotton Maintain Range Shocks
[basic information]
International: US Department of agriculture data show that as of May 23rd, the United States cotton (16825,50.00,0.30%) planting activities completed 60%, the week before the completion of 47%.
According to China
National Bureau of Statistics
Survey, cotton planting in China in 2010
The measure of area
It may be 2.3% less than in 2009.
US Department of agriculture in Islamabad
The report shows that cotton production in Pakistan is expected to be 10 million 550 thousand packs in 2010/11, up 6% from a year ago.
Domestic side: on the policy side, India has allowed cotton exports again, and China has issued 800 thousand tons of imported cotton quotas.
Excessive speculation and so on.
On the basic level, raw material inventory of textile enterprises has increased, wait-and-see sentiment has increased, and market turnover has declined.
For all that
Due to the gradual decrease of lint resources, the tight supply pattern has been fundamentally changed.
According to the above news, cotton basic information is temporarily biased.
[market trend at home and abroad]
Domestic:
Zheng cotton
1101 the contract opened yesterday at 16820 yuan / ton, and the highest level in the market was 16905 yuan / ton, the lowest being 16795 yuan / ton.
16825 yuan / ton, turnover reduced to 164690 hands, and positions decreased by 2952 to 174608 hands.
Abroad: the US cotton continuous price closed at 81.29 cents, or 0.51 cents, or 0.62%.
[technical analysis]
Internal disk: from the disk, cotton 1101 contract price yesterday after the final high, the volume and positions have been reduced.
From technology
The long-term trend of cotton is still strong, and it is estimated that it will still maintain a pattern of interval shocks in the near future.
In terms of operation, we should wait and see.
Aggressive short term traders can choose the operation of bargain buying at the same time, while paying attention to the important position of prices near 16800 and 17000.
External market: US cotton prices continue to shake up in the near future, with a concussion interval of 80.70-83.20 cents.
[today's operation recommendation]
On the basis of wait-and-see, aggressive short-term traders can choose the operation of bargain buying, while paying attention to the important position of prices near 16800 and 17000.
- Related reading
From October 1St To May 22Nd, The Quantity Of Cotton Arrived In India Was 28 Million 500 Thousand Bags.
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