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East Asian Futures: Cotton Intraday Concussion, Short Term Or Continue To Fall

2012/3/2 17:48:00 40

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Cotton futures fell for second consecutive days on Thursday, after technical factors prompted investors to sell activities.

market

Still on the defensive.

Intercontinental Exchange (ICE) index May cotton contract CTK2 down 0.77 cents, 89.67 cents per pound.

The intraday fluctuation range is 89.46-91.49 cents.

Today, Zheng cotton 1209 contract bottom up.

Opened at 21810, the highest 21830, the lowest 21665, closed at 21780, compared with the previous trading day fell 85 yuan / ton or 0.39%.

Cotton index positions increased by 6562 hands, turnover of more than 90 thousand hands.

In the spot market, in March 2nd, China's cotton price index (328) was 19601 yuan / ton, down 5 yuan / ton.

Import in March 1st

cotton

The price index (FCIndex S) is 105.44 cents / pound, down 1.65 cents from yesterday, 1% yuan 16903 yuan / ton, and 17382 yuan / ton of discount tax.

The domestic side announced the plan of collecting and storing the storage in 2012 today, and determined that the price of temporary storage and purchase of cotton in 2012 was 20400 yuan / ton, which increased by 600 yuan / ton compared with 2011 and increased by 3%.

The scope of storage is still 13 cotton producing areas, and other production areas need to be included in the scope of collection and storage.

The storage and storage of cotton is the 1-4 grade instrument inspection of fine cotton in grade 2012, and if most of the cotton grades fail to reach more than 4 grade in case of serious natural disasters in some areas, the purchase quality standard can be relaxed to 5 grade in the affected areas after study by relevant departments.

On the whole, the purchasing and storage price is calculated from the price of wheat storage and storage. After the state raised the minimum grain purchase price in 2012, the minimum purchase price of wheat was adjusted to 102 yuan /50 kg, and the conversion ton price was 2040 yuan / ton, thus the temporary storage and purchase price of cotton was 20400 yuan / ton (2040 * 10).

In addition, the expansion of the scope of storage may lead to more cotton entering the national reserve, so in the next year's bottom area will be restricted by the national reserve.

Cotton price

It may be more likely to go up.

Because of the large quantity of high-quality cotton entering and storing this year, high-grade cotton in the domestic market is scarce. Under the condition of limited import quotas, there may be a looting of high-grade cotton, which may cause cotton prices to rise.

Judging from the trend of the disk, Zheng cotton 1209 opened lower today, diving after opening, the lowest to 21665.

After the rebound, cotton will continue to collect shade and may continue to fall back in the short term.

It is suggested that the single stop loss should be withdrawn yesterday.