Zhengzhou Cotton Futures Opened &Nbsp, &Nbsp, And Then Fell.
In December 9th, Zhengzhou cotton Futures opened high and then fell sharply, eventually falling. The main contract volume of 1109 increased and the line was closed.
On Thursday, December 9th, the Zhengzhou commodity exchange (CZCE) cotton futures 1109 contract opened at 26850 yuan / ton, closing at 26345 yuan / ton, down 425 yuan / ton compared with the 8 day settlement price, and traded 1836476 hands, holding 236124 positions.
Intercontinental Exchange (ICE) cotton
futures
The 8 day's closing was mixed, and brokers said the market participants were ready to meet the USDA report released on 9 and 10.
ICE March cotton contract closed up 1.58 cents, to close at 1.3195 U.S. dollars / pound, the paction range of 1.2642 to 1.3372 U.S. dollars per pound.
By the end of December 7th, the ICE contract for delivery of cotton futures contract No. 2 was 122737 packages, the first trading day was 114360 packages.
India trade minister Rahul Khullar said India will decide next Monday whether to give cotton exporters more time to export 5 million 500 thousand bales of cotton.
The South African cotton group released a report predicting that cotton production in South Africa is expected to drop to a trough of nearly 50 years. In November, the cotton group predicted that cotton production in South Africa would be about 45 thousand bales this year.
Analysts say there is no sign of rising cotton sales because
Cotton grower
Control inventory and forecast price rise again.
The market continues to await the latest monthly report from the US Department of agriculture, plus the sensitive data window period facing this weekend. Investors are wait-and-see.
Analyst Zhai Naigang believes that before the data and policies are not completely clear, cotton prices will continue to be mainly adjusted again and again.
If the policy is loose and market data show that cotton is still in short supply, the market will rekindle the rally.
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