Cotton Is Now In Line With &Nbsp; Focus On Capital And Spot Movements.

Zheng cotton

Flat open up and down, continue to fall sharply, although the tail plate was picked up, it still closed at a close of 2%, the market competition was fierce, the volume of pactions was substantially enlarged, the main contract reached more than 1 million 500 thousand hands, the position of the stock market was sharply reduced, the short term profit margin was positive, and the risk of excessive price difference was higher than that of the spot price. Therefore, after the three consecutive trading days down, the current price was seamless, and the main contract in September was obviously marked with the current spot price.

commodity

Experienced a downturn after the short rebound, triggered fierce competition, the paction has reached a recent high, accompanied by a sharp decline in holdings, from the factors behind the impact, after the recent downturn, the release of market risk, triggering some short-term profit taking began to go out, and because of the uncertainty of crude oil prices, once again to boost market interest in buying, and multiple commodities adjusted to the top 30 days of technology, or near the 60 day moving average, there are certain factors of technology buying, a comprehensive view of the domestic commodity pactions today, a direct stimulation.

Stage cotton

And after the electronic disk down, the domestic spot has changed again. From the main price point of view, the current mainstream 4 level flower price in the mainland is close to 30000 yuan, Xinjiang cotton 3 level price is maintained near 32000 yuan, the shortage of high-grade flowers promotes the turnover of Xinjiang cotton, the real estate cotton paction is not strong, but cotton spot trading is not prosperous, the buyer's wait-and-see mentality is enhanced, and some enterprises have lowered the quotation phenomenon.

From the perspective of current price differentials, today's May contract closed at 32385 yuan, considering the cost of warehousing, and the current level of 3 basic level water, while the September contract closed at 31910 yuan, which is more obvious than spot discount.

In the short term, if the spot can maintain the current level, the cotton futures will continue to fall, and the space will also be limited. Unless the US cotton continues to plummet, and the domestic cotton main funds will show a clear departure pattern, otherwise, the market will enter a new equilibrium stage, and the expected period of spot linkage will change.