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People Say ICE Cotton: The Commodity Market Rebounded As A Whole, And Cotton Rose.

2011/6/29 14:54:00 31

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Greek problems eased, commodity rebound led us cotton to rise

The optimism of the Greek debt crisis has led to the depreciation of the US dollar, and the risk appetite of investors has increased the purchase of commodities, making the CRB index the biggest increase since 6 weeks. So the US cotton has been out of the weak Asian session, and the main 1112 contract has risen 0.02 cents to 122.01 cents / pound, putting off the impact of the fall in China's cotton price.

Although the biggest consumer country, China's cotton price is weak because of its consumption.

Macroscopic

Pressure remains weak, but cotton growth in the US cotton region is the worst in history and drought has led to an increase in the rate of abandonment, which may lead to a significant reduction in US cotton production, which will support ICE cotton prices. USDA will announce the US cotton planting area in 2011, and is expected to form a certain support for the market in 2011.

Technically, the ICE cotton bottomed out again, and the cotton prices gradually stabilized. There are signs of bottoming. Although it still runs under the short-term average, the short term average system has maintained a good fall in order to make the US cotton continue to decline in the medium and long term. However, the KD index has been formed in a long way. The MACD index has continued to shorten the green column, and the cotton price has weakened. The contract is expected to be bottomed out at 120 cents / pound in January. It is recommended to pay attention to the support of the 118 cents / pound line, and it is expected that the ICE cotton will gradually become stronger.

Domestic cotton consumption is weak.

Macroscopic

Under the pressure to maintain a weak position, but the United States cotton in December 122.01 cents / pound closing price calculation, the new year cotton imports to China cost about 22400 yuan / ton, that is, domestic cotton is obviously due to panic over the fall, in the United States and cotton to stabilize the bottom of the bottom, Zheng cotton short chance of a substantial decline, it is recommended that 22000 yuan / ton support in January, if the support has been verified, a small number of holdings in Ping Kong, more than a single target, to 22700 yuan / ton line, otherwise the position will continue to increase holdings of empty, medium and long-term holders, the target to 20800 yuan / ton line.

(Wanda futures Urumqi Sales Department Du Ying)

Weak and weak, the cotton market will continue to keep short ideas.

ICE cotton futures rose slightly on Tuesday, and the December contract rose 2 points to close at 1.2201 U.S. dollars. The Greek parliament will vote on some fiscal policy tightening programmes to resolve the debt crisis on Wednesday. The market's optimism about the adoption of the scheme is heating up. With the weakening of the US dollar, these factors have brought some long atmosphere to the market, and the commodities have been rising. This is the reason that ICE cotton futures have recovered from their lows. The December contract has recovered most of the declines and has risen slightly. In terms of technology, ICE cotton is temporarily in a downward trend after consolidation, and the market trend is still weak, which still belongs to the bear market.

domestic

Zheng cotton futures

Yesterday, it continued to fall. Cheng cotton futures was one of the leading varieties in China. It opened higher yesterday, and the closing price continued to fall.

On the basic level, the purchasing price of cotton in textile enterprises continues to decline, and the stock of spinning enterprises is bigger, and the sales pressure of cotton yarn is large, so there are still more restrictions on production.

On the monetary side, the central bank issued a one-year central bank interest rate yesterday, which is 25 basis points higher than the current one-year deposit rate, plus the market expectation that CPI will not go up, so the rate hike is expected to continue, and there is greater pressure on the market. The weak market is still weak. Most of the commodities recovered from the outside market yesterday were also hard to keep cotton down. At present, the main contract of Zheng cotton futures is closing to the national reserve price in 1201 months. The trend is relatively weak.