Most Of The Crops In The Western Cotton Region Of Texas Are In Good Condition After Rain

Under the support of technical buying and market expectation that the supply of new flowers was tight before the listing, the first six contracts of New York cotton continued to rise the day before. Cotbook spot prices rose. On the 19th, the price of S-6 cotton in India rose slightly, and the crops in the northern cotton region grew well; Pakistan's cotton price slightly dropped, and the cumulative export registration exceeded 100000 tons; The weather in western Texas is sunny after rain, and the crop conditions in western cotton areas are mostly good.

1、 Futures

The recent October contract closed at 86.52 cents/pound, up 153 points; The settlement price of the main December contract was 86.18 cents/pound, up 133 points; In March, the contract closed at 84.52 cents/pound, up 114 points.

The market opened flat and went higher. The main December contract rose all the way in the morning, reaching a peak of 86.39 cents on the same day. In the second half, it basically fluctuated at 86 cents, and finally closed above 86 cents for the first time since July 10. This week, contracts rose 139 points in 1310, 110 points in 1312 and 61 points in 1403.

2、 Spot

On the 19th, the Cotbook A index rose 100 points to 92.15 cents per pound. FC Index SM rose 67 points to 98.50 cents/pound; M closed at 96.72 cents/pound, down 65 points; SLM fell 61 points to 94.32 cents/lb.

After an active period of nearly a week, the volume of cotton futures market in New York dropped significantly on the 19th. The market demand has weakened, and the sellers are short of cash recently, and the quotations are stable, especially West Africa cotton and American cotton. Traders' positions in the third quarter have tightened. Southeast Asian countries purchase Tanzanian cotton and Mozambican cotton, and the market inquires about Greek cotton. Due to the recent increase in sales, the inventory of Indian cotton in China's bonded areas has further decreased.

3、 National developments

On the 19th, the picking price of Indian S-6 cotton gin mill rose by 100 rupees compared with the previous day, and the discount of US dollar fell by 0.2 cents compared with the previous day; The Punjab J-34 price remained unchanged at 93.20 cents per pound. The crops in the northern cotton region are growing well, but the local weather is hot, and cotton growth and yield need more precipitation support.

On the 19th, the cotton price in Pakistan dropped slightly, and the ginning factory reduced its quotation; From August 1 last year to July 17 this year, Pakistan's cotton exports registered 101600 tons in total.

Following the heavy rainfall process in the early part of last week, the southern plains of Texas in the southwestern cotton region of the United States had sunny weather last weekend, with the temperature of about 32 degrees Celsius. Precipitation has limited impact on cotton crops in plain areas, but it is beneficial to cotton crops in irrigated areas; The temperature in the SJV basin of California, the western cotton region, returned to more than 40 degrees Celsius last weekend. The central and southern city of Bakersfield had a high temperature of 42 degrees Celsius on Saturday and in the daytime, and the temperature at night was lower, which was beneficial to crop growth. Most local cotton grew well.