The New Cotton Market Will Throw Cotton Reserves Later In The Market.

Adjustment of market weakness

Since July (7.1-7.12), the main CF1101 contract of zhengmian has fallen continuously, breaking down 16500 yuan / ton important support position, continuing to explore and seek new support, the K-line is suppressed by the EMA, and the overall performance of the disk is weak. In recent years, if it is supported by the 16295 line, the main force of Zheng cotton will probably be able to test the 16000 integer pass.

The main contract CF1101 of Zheng cotton futures has been maintaining weak adjustment since July 1st. The monthly line is on the negative line, and the daily line is suppressed by the EMA. There is no rush to rush, and even the key supporting position of the key callbacks and 16500 yuan / ton is broken, and the weak atmosphere of the entire disk is adjusted vigorously.

Since the issuance of quasi tax quotas and the expectation of dumping and storage control, although the spot market has remained high, futures, matching electronic discs and other markets have declined to varying degrees.

Affected by the weakness of futures market, the intention of shipments will be enhanced.

Shipments of cotton and cotton merchants have been increasing in recent days, but the offer is still high, with a weak level of three yuan, 18500 yuan / ton.

Spinning enterprises believe that the price is higher than the psychological price, and expect to be several hundred cheaper.

As of July 9th, China's cotton price index (CCIndex328) was 18419 yuan / ton, and the average price of grade 429 cotton to plant was 18054 yuan / ton.

USDA to increase cotton production next year

Recently, the newly released USDA monthly report on the 2010/2011 global cotton production is expected to increase again than last month.

Specific expectations are as follows:

Output: expected global output of 25 million 260 thousand tons, an increase of 369 thousand tons from last month.

China's output is 7 million 185 thousand tons, and India's 5 million 443 thousand tons have not been adjusted. The US output is 3 million 984 thousand tons, increased by 348 thousand tons, and Pakistan's 2 million 221 thousand tons, which has been reduced by 65 thousand tons.

Consumption: global consumption is expected to increase by 26 million 62 thousand tonnes and 45 thousand tons.

The consumption volume of China and India is expected to be 1066.9 and 4 million 442 thousand tons, respectively, while Pakistan's 2 million 526 thousand tons will be reduced by 21 thousand tons.

Volume of import and export trade: the total volume of Global trade is about 8 million 60 thousand tons.

Among them, China's import volume is expected to reach 2 million 537 thousand tons, an increase of 33 thousand tons, and that of Turkey and Pakistan is 718 thousand tons and 501 thousand tons, respectively, increasing by 65 thousand and 87 thousand tons respectively.

The export volume of the United States and India was 3 million 113 thousand and 1 million 285 thousand tons, respectively, increasing by 174 thousand and 22 thousand tons respectively.

Final inventory: estimated 10 million 867 thousand tons at the end of the world, up 70 thousand tons from last month.

The US end inventory was 762 thousand tons, an increase of 152 thousand tons from the previous month.

Pakistan has increased 130 thousand tons for 738 thousand tons.

New cotton listing postponed promotion of throwing storage