Exports Remained Strong &Nbsp; The Trend Of Cotton Futures Rose (10.22).

The weekly export report released on Thursday night showed that the US cotton contract signed an export of 130 thousand and 800 tons in recent weeks, which was higher than market expectations. This resulted in ICE cotton breaking away from the US dollar rebound and the weakness of the peripheral market. Trade and speculative buying continued to push up cotton prices. In December, the contract jumped 1.45 cents to 115.71 cents / pound.

At present, the international cotton price is in a good rising trend. The rising cotton price has not suppressed consumption. The tight global supply and buying from China are expected to continue to push up the ICE cotton price in the case of the fund's overall rising cotton price. It is suggested that the bull's mind should be kept unchanged, and the possibility of short-term challenge of 120 cents per pound will not be ruled out.

Technically, the ICE cotton futures were closed down, and the closing price of the December contract broke the previous high point, and the steady average long line up was maintained over the short term moving average. The long-term rally is expected to continue and there is a trend to challenge the pressure level of 117 cents / pound again.

Although the KD index is at a high level of adhesion forming a drop in the arrangement, but the MACD index continues to rise in a row and does not change. At the same time, its red column growth, cotton prices are expected to continue to rise and challenge 117 cents / pound pressure level. It is advisable to watch cautiously. As long as 106.4 cents / support is not broken, the long-term rally will continue.

20 days after the central bank raised the reserve ratio of deposit and loan, on the 21 day, the Xinjiang issue began to issue loans. In the case of Xinjiang's reduced production and tight resources, the market was worried that after the financial pressure was solved, enterprises would rush to buy seed cotton and push up the purchase price again. This led to a substantial increase in Zhengmei on Thursday, and the main 1105 contract hit a daily limit.

However, at present, the price of zhengmian is approaching the spot cost, and the difference between the inside and outside cotton prices is widened.

Therefore, although Zheng cotton continues to rise without changing the trend, it is not recommended to catch up at high prices. It should pay more attention to short term 24680 yuan / ton support position. If the support is verified, a small number of holdings will be added. Otherwise, more money will be left alone.

It is expected that Zheng cotton will continue to advance to 26000 yuan / ton in the future.

(Wanda futures Urumqi Sales Department Du Ying)

Independent periphery continues to grow

Last night, the US dollar rebounded in the international market. Except for crude oil and gold, most other commodities markets were in high order. ICE cotton continued to rise and reached a new high.

The data released by the United States last night were relatively profitable, including the US Labor Department report that the number of initial jobless claims decreased by 23 thousand to 452 thousand in the week ending October 16th, which is higher than the average expected 450 thousand of economists surveyed by MarketWatch.

The US economic and Trade Advisory Bureau reported on Thursday that the US first economic index index increased by 0.3% in September, and plus favorable financial results, the US stock market closed slightly higher, and the intraday major stock index once approached the highest level in the year. The late US dollar led to the sharp decline of crude oil and crude oil. The three quarter data released by China showed that the economy was confident of recovery. Meanwhile, President Zhou Xiaochuan said in the opening speech of the "macro Prudential policy: Asia Perspective advanced seminar", the risks of inflation and asset bubbles will increase significantly, and the future macroeconomic policy initiatives will focus on this.

In terms of cotton fundamentals, USDA's export sales record as of October 14th still maintained a high level of 130 thousand tons. The high level did not curb consumer demand and continued to be optimistic. Meanwhile, international COTLOOK lowered China's output to 6 million 400 thousand tons this year, which once again proved that China's output was not good enough.

Zheng cotton jumped high yesterday, and several contracts reached a daily limit. In September, the market was sealed up and reached a record high. At present, matching, cotton futures and spot goods are at the same level. At present, cotton prices are still difficult to attract hedge funds. They are concerned about the purchase price of seed cotton and the trend of new cotton purchase and sale after throwing all the bundles. Under the tight anticipation of resources, there is ample liquidity around the market, and the market is still on the rise.

On the operation, we should continue to hold more, or 25500-26000 appropriately reduce the weight, and pay attention to the changes of new spot factors.

(pioneering futures Dong Shuangwei)

On top of the top, cotton will not change.

ICE cotton futures rose sharply on Thursday, the contract rose 145 points in December to close at $1.1571 and ICE cotton futures rose high after a high rise. Although the dollar rose sharply, the prices of other commodity futures were generally down, cotton futures continued to show strong fluctuations, and the growth of cotton futures continued to be a driving force to support the rise of cotton prices. Chinese domestic analysts predicted that domestic cotton output was 6 million 400 thousand tons in 2010/11, which was basically consistent with the estimated data from the Cotlook forecast. This is lower than the estimates by the USDA and China Cotton Association.

Domestic cotton futures were basically not affected by the interest rate hikes and the negative impact of the CPI data announcement, but maintained a larger increase. The price was at a record high. Due to the decrease of planting area and adverse climate effects, cotton production declined this year, cotton resources were few and cotton farmers' sales were not positive, which would make the market expect cotton supply to be tighter.

Cotton spot also maintained a strong rise, inflation expectations also make Zheng cotton futures on the capital side is more abundant, the cotton market will not change, still maintain a variety of thinking.

(Haitong futures Zhengzhou Sales Department: Zhang Jianwei)