Zheng Cotton Attention To The Decline In The Amount Of Money, The United States Cotton To Warm Up

Data show that from the second half of 2014,

Transactions and positions have been enlarged twice. The total position has reached 973940 hands, and the turnover has also exceeded 1 million hands in the short run.

But the good times didn't last long. In the 2015 year of the year, the positions were in a slump again, and the warehouse was at the top of 700 thousand hands, with 400 thousand hands in volume. But most of the time it held at about 40-50 hands, and the volume still lingered at 10-30, 000 hands, indicating that the fund had little interest in the variety.

From the change of the main position, the net decreases first and then increases.

It plays an obvious role in this.

Look at the warehouse receipt situation again. Since 2013, Zheng cotton warehouse list has been kept low. In 2014, it began in the middle of 10 months, and cotton futures were at a relatively high level along with the gradual listing of new cotton in China.

Warehouse receipts began to slow down.

By the end of June 25, 2015, the number of warehouse receipts increased to 1673, with 612 valid forecasts totaling 2285. With the increase of warehouse receipts pressure, the net began to withdraw.

5 after the month of delivery, and with the decline of futures, the current price differentials follow down, the pressure on warehouse receipts is reduced, and the net rebound in the background of shorting the stock market is insufficient to stimulate the market, and the price has not improved significantly.

CFTC futures position data show that after 2015, non commercial positions showed a lot.

In the recent stage, the net number exceeded the 3-4 areas in the early stage, and the price was supported.

The pattern of external strength and internal weakness continues.

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China's policy of purchasing and storage for three consecutive years has stimulated the long run of domestic and international cotton prices, and led to the reduction of cotton consumption in China's textile mills.

The dumping and storage led to the reduction of import demand for foreign cotton and the limited growth of the global cotton trade.

In the 2014 year of the year, China's policy changed, and the purchase and storage was abolished. It was converted into a direct subsidy for Xinjiang cotton farmers in accordance with the target price of 19800 yuan / ton.

In the 2015 year of the year, the state continued to implement the cotton target price reform in Xinjiang. Under the premise of safeguarding the interests of farmers and maintaining the stability of the output of Xinjiang cotton, we should appropriately consider the pressure of financial subsidies under the background of the fall of cotton prices and fine tune the planting structure to alleviate the pressure of supply. The target price level of cotton in Xinjiang in 2015 years is determined to be 19100 yuan per ton, down from 2014.

In 2014, the ministerial Joint Conference on cotton target price reform was held in 2014. It was stated that in 2014, the quota subsidy for cotton in the mainland was 2000 yuan / ton. The subsidy scope covered 9 provinces in Shandong, Hubei, Hebei, Jiangsu, Anhui, Henan, Jiangxi and Gansu. The subsidy standard for the next year was based on 60% of the allowance for Xinjiang, and the ceiling should not exceed 2000 yuan yuan / ton.

According to this year's market, Cotton Subsidy in the mainland will probably still adopt the standard of 2000 yuan / ton.