Cotton Basic Weakness &Nbsp; Continued Weak Shocks After Market
This week (6.13-6.16), although the drought in the main cotton growing areas of Dezhou has not been alleviated, and has basically determined the impact on the future cotton production per unit area, the news has not brought more confidence to the market. It is under the combined influence of the weak global cotton demand, the future economic growth of the United States and the worsening of the Greek debt problem. American cotton Investors have been losing a lot of sales.
As of June 16th, the US cotton index contract closed 120.18 cents, or 13.47 cents, or 10.07% in December.
This week (6.13-6.17), the Chinese economy announced this week and the central bank raised. deposit After the introduction of the reserve requirement, the futures market was phased out, and the trend of the surrounding commodities was stronger. However, due to the overly weak cotton fundamentals in China, it was difficult for Zheng cotton to form an effective rebound but to continue to shake down.
As of June 17th, the 1201 contract of zhengmian main contract closed at 23715 points, or 835 points, or 3.40%.
Zheng cotton has completed the month of change this week, and the basic contract is weak for the new contract 1201 contract. Macroscopic It is hard to get out of a decent rebound if the environment is unstable. Zheng cotton is currently in the 22500-25500 section of the concussion, but 24000 will be regarded as a dividing line for the upper and lower intervals. If the two trading days before next week can confirm that the January contract falls below 24000, then investors can sell short, but if the 24000 support is valid, then a small number of single participation can be recommended. If the price can not be separated from the 24000 front-line, investors will continue to wait and see.
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