The US Dollar Strengthened And Exports Shrank.

On Monday, the US dollar remained strong, while the US cotton exports weakened. The Chinese regiment lowered prices to promote cotton and further suppressed the market's popularity. Multiple factors made ICE cotton continue to fall and trigger a stop loss. The May contract fell 0.72 cents to 62.25 cents / pound.

However, at present, the US cotton has completed the USDA forecast of 93.6% of the export volume and 40% of the shipment. The cancellation of some orders in China will not affect the overall situation. At the same time, the registered cotton stocks in the ICE period are only 9948 packages, which will restrict the strength of the bears. And the key factor affecting the international cotton price is India.

Remain stable, under the above market conditions.

Not having the lead in India cotton prices fell sharply may be cautious, bearish ICE cotton.

Pay close attention to the strong support position of 60 cents / pound in May.

Technically, on Monday ICE cotton continued to decline. The main contract in May was closed below the short-term average, while the short-term average line turned downward and traversed the medium-term average, forming a short alignment trend. The KD and MACD indexes continued to fall short, the MACD index green column growth, and the downtrend will continue. In May, the contract will challenge the strong support position of 60 cents / pound integer, and keep the short term thinking unchanged.

It is understood that the sales price of the Xinjiang platform of the regiment has been reduced to 13200 yuan / ton at the 3128B level, and the maximum price of more than thirty thousand tons can be reduced to 12900 yuan / ton. The final paction price is reduced by 300-600 yuan / ton compared with the 13500 yuan / ton before the Spring Festival, which means that the sales volume of the regiment has basically been confirmed. The sales progress of the regiment must reach 50% before May. The future market will be faced with the selling pressure brought about by the selling of cotton by the Xinjiang army. The spot cotton price may be under pressure.

Although there has been a slight increase in the price of cotton yarn and grey fabric in the near future, but the overall demand is low, cotton prices in India remain stable, but as time goes on, India is bound to face sales pressure. Its cotton price and yarn price will be weakened and will impact China's cotton price and yarn price.

The increase in domestic supply, falling cotton prices and weak demand will put downward pressure on the whole market. It is proposed that we should keep our ideas short.

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ICE cotton futures fell on Monday. The most active May contract fell 0.72 cents to 62.25 cents.

Investor concerns about demand have put pressure on cotton prices. Sales figures released last week showed that weekly net sales were a net loss. China cancelled a large number of cotton orders, and investors worried that the cancellation of orders could continue. This brought pressure on the cotton market, which continued to affect the cotton market this week.

On Tuesday, the US Department of agriculture will publish monthly supply and demand reports, and the market will focus on the report and look for a trading guide.

ICE cotton futures contract fell for eight consecutive trading days in May, the lowest in the intraday market to 62.05 cents, the market continued to fall, the trend is weak.

Zheng cotton futures 1505 month contract low Monday low, down 50 yuan, closed at 13110 yuan, clinch a deal 135 thousand hands, hold positions 223 thousand hands.

On the spot, China's cotton price index 3128B cotton reported 13475 points, down 3 points, and spot remained stable. After the holiday, enquiries increased and spot market activity increased, while the downstream market was light and cautious. The market rumors that the Xinjiang Corps gave preferential treatment to 300-500 yuan / ton for major customers and large single pactions, had obvious effects on Zheng cotton futures, and prices had already seen a sharp decline. The trend of the decline was narrowing recently, but the trend is still relatively weak.

Zheng cotton futures contract continued downward trend in 1505 months, below the short-term support in the vicinity of 13000, concerned about the performance in this vicinity.