Several Major Institutions Today -- Cotton Futures

　 [MEIKO futures] US cotton exports push up the outside market, Zheng cotton is constrained by buying and selling light.

Overnight, on the 30 day, ICE cotton was not affected by the sharp fall of wheat futures. In March, the contract continued to rise under the intervention of buying, but failed to touch the highest price of the day before, and turnover also declined. Analysts said that at present, the US economy is still threatened by the fiscal cliff, and the global demand has not yet been substantially improved, so the challenge of cotton price to 74 cents is somewhat difficult.

In the international market, 30 days, the majority of varieties of imported cotton in China's main port maintained a rising trend, while cotton and India cotton rose 0.5 cents, while individual varieties fell slightly. At present, the market inquiry is more positive, but as cotton prices gradually increase, the actual volume will be affected. Although the supply of cotton is adequate, it is the most recent time. Spin The continuous procurement of factories can support cotton prices. Before the global economic downturn and downstream demand have not seen any substantial improvement, cotton prices will be limited.

Domestic market, 30, the domestic cotton spot market prices continue to strengthen. Under the premise of price advantage, textile enterprises are mainly purchasing cotton. With the new listing of new cotton in various countries, cotton to port will increase in the next few months, which will have a great impact on the spot market.

State Reserve dynamics, November 30th, state cotton Temporary storage and storage of 90010 tons, as of that date, 2012 cotton temporary storage and storage transactions totaled 3493960 tons.

Spot quotation, November 30th, the US C/A cotton 89.35 (cents / pound), the discount port RMB delivery price 15075 yuan / ton (calculated by sliding tax); Australia cotton 94.35, fold the price of RMB 15715 yuan / ton; Uzbekistan cotton 91.85, discount port RMB port delivery price 15390 yuan / ton; West Africa cotton 84.85, discount port RMB port delivery price 14533 yuan / ton; India cotton 84.35, discount port RMB port delivery price 14470 yuan / ton. In November 30th, CNCotton A was 19809 yuan / ton, CNCotton B 18978 yuan, up 7 yuan.

Market analysis, because the difference between the inside and outside cotton price is huge, and the foreign cotton is coming to Hong Kong in succession, the high price real estate cotton is almost nobody, except for the storage, close to storage and close to 3 million 500 thousand tons, and the spot price is stable. 01 contract to see 19800 support, fall will usher in the callback; 05 contract continuation weak support 18950.

On the operation, the 01 contract 19800 fell below the test space; 05 empty single continues to hold, support 18950; arbitrage departure.

　 [cotton futures] cotton continues to pay attention to long-term pressure

Viewpoint: Mei cotton 74.04+0.53. US cotton is supported by spot buying.

Data: global cotton inventories were raised to more than 80 million packs for the first time.

Spot: China cotton 328B18918+16, current price difference +403. The price difference is in a reasonable range.

Information: in November 30th, we planned to close and store 153750 tons, with a turnover of 90010 tons, with a turnover ratio of 58.5%. As of today 2012, cotton temporary storage and storage totaled 3483960 tons, of which 1877520 tons were accumulated in Xinjiang, and 1081930 tons were accumulated in the mainland. The total turnover of backbone enterprises totaled 524510 tons.

3: the United States cotton mild fluctuations, but the impact on domestic cotton is insufficient. Domestic cotton continues its own characteristics today. CF1301 does not give any advice on buying above 19800, and pays attention to 19880 front-line pressure.

At the same time, we should continue to pay attention to the pressure of CF1305 on the rail line in the day brin channel, corresponding to 19200, and continue to give light air pressure. And keep short thinking. This strategy is consistent with the previous stage.

The most important trend of cotton at present is: in recent months, it is relatively stable by the support of national reserve and storage, while the possibility of going out of the fall is enlarged due to the limitation of storage time. Another rumor is that the State Reserve may put cotton reserves into the market at the price of 18000 yuan after the year. It can not be confirmed, but if it is true, the forbearance pattern is unavoidable.

We give long-term light air judgement. And it can maintain close proximity. Interest arbitrage Strategy.