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Zheng Cotton Rebounded Under Pressure Larger Than &Nbsp, And The Empty Pattern Remained.

2011/7/15 19:15:00 32

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ICE cotton fell on the 14 day, the US export sales report was bad, the market failed to maintain the previous day's rally, prompting market participants to sell cotton futures contracts.

Index December contract fell 4 cents, or 3.69%, to settle at the low of $1.0446 per pound.

Fang Huiling, futures analyst at Xiangcai prayer year, said the US cotton export sales report showed

New and old cotton

The export situation was weak, and the external market suffered heavy losses.

Domestic industry is still in the doldrums, the market is still in a pessimistic atmosphere, Zheng cotton rebound pressure is still large, is still in the empty pattern, concerned about the underlying support 21000.

The United States Department of agriculture (USDA) announced that as of July 7th, the United States exported 91 thousand and 400 bales of cotton exports in the current year and 41 thousand and 100 new cotton sales.

This year, US cotton exports continued to be negative, and the amount of new cotton contracted sharply decreased from the previous week to below 10000 tonnes.

The spot market continues to be pessimistic, and the downward trend of prices remains unchanged.

On the 14 day, China's cotton price refers to (CCIndex328) 22387 yuan / ton, down 188 yuan, 527 cotton to plant average price 20203 yuan / ton, down 194 yuan.

At the end of the year, the pressure of repayment of cotton enterprises is huge. Enterprises should return the funds and supply the market structure that exceeds demand, making the cotton paction price continue to go down, and the actual turnover is still light.

According to the survey of textile enterprises in Shandong, the cotton of many large and medium-sized textile enterprises is up to now.

Stock

It can be up to 30-45 days. In view of the risk control, there is no purchase plan in the near future.

In July 14th, the average price of the contract was generally increased in the cotton trading market of the national cotton trading market, and the average price rose by more than two hundred yuan in the past month.

The main MA1108 contract closed at 20650 yuan, up 196 yuan; in recent months, the MA1107 contract closed at 21395 yuan, up 270 yuan.

The volume of turnover increased slightly, and the order volume continued to increase.

On the international side, ICE cotton fell on the 14 day, US exports.

Sale

The report failed, the market failed to maintain the previous trading day's rally, prompting market participants to sell cotton futures contracts.

Index December contract fell 4 cents, or 3.69%, to settle at the low of $1.0446 per pound.

On the domestic side, Zheng cotton futures opened higher and lower on the 14 day, and the main 1201 contract reported 21690 yuan / ton, the same as the previous day's settlement price, the highest 21980 yuan / ton, the lowest 21435 yuan / ton, the market turnover increased 292 thousand hands to 1 million 869 thousand hands, and the position increased 16626 hands to 548 thousand hands.

Technically, the main 1201 contracts are going up and down, and the price is still being suppressed by the 22000 and 5 day moving average. The gap on top of the gap is not recovered, and the market is increasing.

From the status of the contract positions held after the opening of the contract, the short positions have increased holdings, while the number of multi agency institutions has been reduced. Many of the main seats in Yongan, Zhejiang, have gone up in large numbers. They have held more than one single 7943 hands and increased their holdings of 2262 empty shares. This shows that the attitude of the institutions to the market outlook is still not optimistic, and the market is still in the short position.