ICE&Nbsp; Cotton Contract Closed Up In March.
ICE cotton futures closed on the 8 day. Cotton futures contracts were boosted by business and investor buying, but the market remained cautious before the USDA report.
On December 8th, the 8 cotton futures of Intercontinental Exchange (ICE) closed on the same day, and brokers said the market participants were ready to meet the USDA report released on 9 and 10.
ICE
The March cotton contract closed up 1.58 cents, closing at $1.3195 / pound, with a turnover ranging from $1.2642 to $1.3372 a pound.
Other month contracts range from 2.60 cents to 0.89 cents higher.
Preliminary data show that turnover reached 24762 hands, compared with the 30 day average of 35335 hand low of about 1/3.
Cotton is the best commodity in the Reuters -Jefferies commodity index, which has risen nearly 75% from the beginning of this year.
Analysts said the cotton futures contract was boosted by the combined role of business and investor buying.
China's cotton prices have not encouraged the market.
Zhengzhou, China
Commodity trading
The cotton contract concluded in May ended down 550 yuan, closing at 26360 yuan / ton.
Traders wait for the weekly export sales data and monthly supply and demand data released by the US Department of agriculture (USDA) respectively on 9.
Broker
US cotton exports are expected to sell at 30-40 bales, and last week the figure was 636 thousand and 900 packs.
The market is also waiting for the monthly supply and demand report to be adjusted, especially if the report shows that supply will be more intense and may re ignite the rise of the cotton market.
In addition, market participants have shifted their focus to cotton planting expectations in the spring of 2011, such as the United States and China, which will focus on whether the two countries can produce more cotton.
Informa Economics raised the estimated US cotton acreage in 2011 to 12 million 200 thousand acres, a four year high and 12% higher than the 10 million 909 thousand acre sowing area in 2010.
- Related reading
Kkyi Securities: China Led The Men's Clothing Industry &Nbsp; &Nbsp; Recommended Increase.
|- business etiquette | Negotiating Styles Of Japanese Businessmen
- Foreign laws and regulations | Handling Methods Of Customs Inspection
- Foreign laws and regulations | What Is The Declaration Process Of Export Products Returning To Domestic Product Tax?
- asset management | Inventory Management In Business Secretarial Practice
- Fashion frontier | Gorgeous Wind Hat And Curly Hair: Elegant Little Celebrity
- Document processing | Basic Tasks Of Business Document Management
- neust fashion | Beret * Shun Straight Hair: Pure Personality Beauty
- Document Writing | The Role Of Business Writing
- asset management | Management Of Petty Cash
- Office attire | Classification Of Business Documents
- Bayer 6 Water-Based Synthetic Leather Production Line Will Be Located In Lishui.
- Revealing "50" And "110" Of Textile Science And Technology In 12Th Five-Year
- Zheng Cotton Plummeted &Nbsp; Trend Chart Before Spring Festival
- Lu Shuangping: With An Idea, Act Immediately.
- Xinjiang Corps Picked Nearly 3 Million Tons Of Seed Cotton.
- ICE Cotton Futures Closed For 8 Days
- University Students Create Their Own Snack Brands
- The Middle Of Shanghai: Zheng Cotton Rebounded Or Was In Place &Nbsp; Instead, It Moved Downward.
- Tongxiang Holds The Right To Speak In The Field Of Fur Industry Standards
- Cotton Supply Is Still Relatively Tight &Nbsp; The Drop In Space Is Limited.