Comment: August 17Th ICE&Nbsp; US Cotton Futures Contract Is Still Weak.

Tuesday (8.17) ICE US cotton futures contract mostly ended in weak Yang, but the main contract in December fell slightly last week.

Although the weak dollar and three digit growth in Wall Street provide potential positive support for the market, the cotton market is still falling.

October 2010 contract opening price of 87.43 cents, intraday trading interval 88.00- 87.25 cents, the final closing price of 87.73 cents, up 0.30 cents, turnover 80 hands, the last day settlement 87.43 cents, empty volume 975 hands.

December 2010 contract opening price of 84.05 cents, intraday trading interval 84.39- 83.50 cents, the final closing price of 83.86 cents, down 0.16 cents, turnover 6804 hands, the last day settlement 84.02 cents.

In 2011, the opening price of the 03 month contract was 82.32 cents, the intraday trading interval was 82.90- 82.05 cents, and the final closing price was 82.72 cents, up 0.21 cents.

Luis Anna Demandeville's independent broker and analyst Mike Stevens said the cotton market looks rather weak.

Pakistan is short of new and reliable information, and the flood has caused damage to crops.

In addition, the hot weather in the past two weeks, most of the cotton growing belt in the United States is harmed by high temperature.

The US Department of Agriculture reports that the cotton field, which has been listed as good to excellent, has dropped to 62% from last week's report of 65%.

But cotton growth is still better than last year. Last year, the proportion of cotton fields that was excellent to excellent last week was 50%.

The Federal Reserve recently decided to reinvest its mortgage backed securities back into the US for long-term treasury bonds.

Goldman Sachs said the resolution took the first step in the second quarter of quantitative easing.

The European Central Bank has not announced before May 10th that it will buy government bonds.

In the absence of the shadow of sovereign debt crisis in southern European countries, there is possibility of continued quantitative easing in Europe.

In early 2007, international oil prices started a strong rally, rising from around 60 dollars to 96 dollars at the end of the year.

At the beginning of 2008, oil price broke through 100 US dollars at one stroke, and then it was out of control and reached a record high of 147 dollars in mid July of that year.

The surge in oil prices prompted CFTC to launch a comprehensive survey of the oil futures market by the end of 2007 to find out whether the price of oil has been manipulated, and to investigate all levels of crude oil pportation and storage to futures trading.

The latest case of punishment can also be regarded as one of the results of the investigation.

According to CFTC's statement released on Monday, a trader in CTG conducted an "improper" paction on the first trading day of 2008, which resulted in the crude oil futures contract of NYMEX of New York trading at a "unrealistic" price level, that is, $100.

The exchange reported that in August 17th, the second intermediate cotton SLM 1-1/16 traded at 84.31 cents in seven spot markets, 1 3/32 in intermediate cotton, 88.45 cents in trading and 137 packets in volume, 150 packets in the current year, 23024 packets in the same period last year.

The exchange reported that in August 16th, the stock certificate of the stock exchange was 19394 packs and 0 bags to be certified.

The exchange reported that on Tuesday, the ICE cotton trading volume of 12426 hand option trading, the call option was about 6516 hands, and the put option was about 4502 hands.

The most active ICE contract fell 0.16 cents, or 0.19%, at 83.86 cents per pound in December.

ICE US cotton futures closing August 17th