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September 8Th Expert Cotton Review ICE: Profit Taking &Nbsp; Overall Decline

2010/9/9 14:53:00 34

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Wednesday (9.08) ICE New York Intercontinental Exchange, USA

Stage cotton

The market declined and speculative funds did more, but trade began to gain profits after the December contract reached its highest point in two years.

The volume of recent contracts in October has actually climbed to its highest level in 15 years.

The main reason for the rise of cotton is the pulling of funds, and the fundamentals remain good.

Market participants worry that the output of Pakistan will continue to decline. The quality of cotton will be caused by heavy rain in China. In the southern part of Dezhou, the storm will bring several inches of excess rain. After that, the quality of cotton will also be a problem. About 31% of the local cotton will be picked.

October 2010 contract opening price of 91.52 cents, intraday shock interval 91.60- 90.52 cents, closing price of 90.57 cents, down -0.75 volume 152 hands, the last day settlement price 91.32 cents, empty volume 961 hands.

The most active December 2010 contract opened at 91.18 cents, the intraday concussion interval 91.68- 90.45 cents, closing price 90.56 cents, down -0.62 cents, turnover 12545 hands, the last day settlement price 91.18 cents, empty plate 149126 hands.

2011 03 month contract opening price 89.53 cents, intraday shock interval 90.00- 89 cents, the final closing price of 89.14 cents, down -0.46 cents, turnover 5280 hands, the last day settlement 89.60 cents, empty volume 53889 hands.

The US Department of Agriculture plans to release its September on Friday morning.

cotton

In the supply and demand report, market participants made predictions in the early stage of the report. They expected that the US cotton output in the 2010-11 year was 18 million 490 thousand packs, lower than the 18 million 530 thousand package estimated by the US Department of agriculture's August report, the domestic consumption of 3 million 400 thousand packages, and the US Department of agriculture's August forecast was flat, the export 15 million 60 thousand packs, slightly higher than the US Department of agriculture's August report 15 million packages, and the final rotation of the inventory 3 million 140 thousand pack, slightly lower than the US Department of agriculture's August report forecast 3 million 200 thousand package.

The US stock market closed slightly higher on Wednesday.

News of Portugal's successful auction of treasury bonds eased investors' worries about the European debt crisis.

The Fed has confirmed that the slowdown in economic growth has limited stock market gains.

At 16:00 on September 8th, the Dow Jones industrial average rose 46.32 points to 10387.01 points, or 0.45%, while the Nasdaq composite index rose 19.98 points to 2228.87 points, or 0.90%; the standard & Poor's 500 index rose 7.03 points to 1098.87 points, or 0.64%.

New York Mercantile Exchange crude oil

futures

At more than $74 a barrel.

Gold futures fell $1.80, or 0.1%, to $1257.5 an ounce.

Gold closed at $1259.3 an ounce on Tuesday, creating the highest closing price.

President Obama said the country could not afford to extend the Bush era tax cuts to the wealthiest Americans. At the same time, he was ready to cut taxes for Americans who earn less than or equal to $250 thousand a year.

Obama also said that this policy is not a punishment for the affluent, but a 700 billion dollar bill that the state can not afford to cut taxes for the wealthy.

ICE data show that in September 3rd, the cotton exchange certified 18004 stocks (500 pounds / pack), and September 7th certified inventory of 17598 packages, 0 bags to be certified.

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Today's cotton trading volume is about 11300 hands, option trading, call option about 5269 hands, put option about 3667 hands.

The most active December contract lost 0.62 cents, or 0.68%, to 90.56 cents / pound.

ICE US cotton futures closing September 8th

Contract month