Cotton Prices Remain Strong In The Cotton Market

Although there are not many spot demand at present, and India's cotton exports are not restricted, ICE cotton futures in September 13th are still steady and small.

On the same day, grain and soft commodities generally declined.

The Australian Bureau of agricultural resources and economic research increased the Australian cotton output this year to 1 million 144 thousand tons, an increase of 3.4% over the previous forecast, an increase of 23% over the previous year. The reason is that cotton prices are attractive, and the yield is better than other crops and irrigation water is adequate.

At present, the spot traders reflect that the market demand is still weak. The recent price increase is likely to be a hedge fund's position in a series of commodities.

Although the price of cotton is less than 100 cents, textile mills are not buying it.

If funds continue to push up the price of ICE, the result may be a setback in global cotton demand growth.

It is understood that traders do not cotton Brazil at this stage.

After the ICE futures were consolidated, the price trend was not affected, and the mobile average showed strong support below.