Spot Prices In The Cotton Market Continue To Improve &Nbsp; Empty Sheets Continue To Hold.

In terms of cotton market, the weak demand for the downstream market will not be changed in the short term, the current price differentials and internal and external spreads will be further returned. At the sugar conference, data on sugar production and marketing in 11/12 were released. Supported by policy, the bottom of sugar price has been determined, and the possibility of a sharp fall is very small. The main influencing factors in the future are consumption and national macro policies.

Cotton: empty list continues to hold. White sugar: empty single bargain, reduce warehouse, buy more than single bargain.

Futures market: today, the opening of domestic commodities is stronger than yesterday, but the opening of soft commodities is low. The intraday trend reverses the situation, especially the white sugar, low opening and high walking, and finally closed up 0.33%. Cotton in the afternoon is affected by the buying of many bullets, the decrease is narrowed, and the final fall is 0.14%. From the price point of view, the main contract of sugar in September ended at 6624, with a turnover of 214672 hands and 5054 additional positions. Cotton main contract in September closed at 21170, turnover of 59388 hands, reduced 402 positions.

Outside market quotation: ICE raw sugar futures reached a low level on Tuesday, while the late trading rebounded. The main contract ended at 21.63 cents in July, up 0.19%. ICE phase cotton small adjustment, the main contract in July fell 1.28%, closed at 91.30 cents per pound.

Spot market: this morning, the wholesale market showed a trend of narrow market volatility, and the spot quotation in Guangxi's main production area was basically stable yesterday. Nanning: middlemen quoted 6650 yuan / ton, the quotation is steady compared with yesterday, sales volume is general. Liuzhou: middlemen quoted 6540-6650 yuan / ton, the quotation remained stable compared with yesterday, sales volume is general.

Cotton prices continue to rebound in the domestic cotton market. China's cotton price index (CC Index328) is 19343 yuan / ton (+6), the 527 price index is quoted at 16795 yuan / ton (+2), and the 229 price index is quoted at 20669 yuan / ton (+14). A few days ago, high grade cotton fell faster, so the rebound rate in the past two days is also relatively large. According to market reaction, the seed cotton resources are gradually reduced, and the quality of the market is less and less. Many enterprises are processing low grade cotton under the condition that cotton is hard to get, so as to obtain "barely profit".

Operation strategy: spot prices continue to improve for cotton. But this improvement is not due to the rebound in downstream demand. In April, China's imports of cotton yarn increased by 41.04% over the same period last year. The data show that there is a possibility of further reduction in the production of cotton yarn in the downstream textile industry. Under the temptation of foreign cotton yarn with higher cost performance, the stock of upstream cotton enterprises will increase, and the reduction of demand will become the main cause of short-term cotton price constraint. The current price differentials and internal and external spreads will continue to return. Therefore, it is suggested that investors should keep their ideas in the early stage and keep them empty.