Phase Cotton Export Sales Data Strong

Cotton prices rose to a two week high on Thursday, due to the expected adverse weather conditions and exports.

Strong, offset the slight impact of the US government's intention to report the impact of planting.

May of last month

The contract fell 0.38 cents or 0.7% after planting intention report, and then rebounded.

The report predicts that the US farmers' cotton planting area will be 9 million 562 thousand acres this year, slightly higher than the market estimate of 9 million 412 thousand acres.

The United States announced that it sold 86 thousand and 400 packages of cotton in the week to March 24th, an increase of 2% over the previous week.

The US dollar index fell 0.23%, and the core commodity CRB index fell 0.26%.

Total turnover increased by 10098 to 36626 hands.

Data show that the last day's open positions increased by 1844 to 218354.

In May, cotton rose 0.77 cents, or 1.34%, at 58.44 cents a pound, 57.01 cents below the two week low.

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According to the national cotton market monitoring system, Anhui east to the monitoring station information personnel understand, up to now, although the local lint spot prices fell frequently, but the paction did not improve.

In March 30th, the local lint 3128 and 4128 level quotations were 11600-11800 yuan / ton, 11500 yuan / ton (delivery, ticket and cash), which were 200 yuan / ton lower than last week.

It is understood that the main reason for the poor sales of real estate cotton is the increase in the sales of Xinjiang cotton.

With the approaching time of cotton reserves, some Xinjiang cotton enterprises are getting more nervous and panic, and their willingness to go inventory has been greatly enhanced, and they have been selling vigorously before the cotton reserves come out.

A 400 enterprise in Xinjiang has stored more than 1000 tons of cotton and has sold all of them recently. The 3128 level sales price is 11800 yuan / ton (gross weight, sent to the inland textile mill, with tickets and cash settlement), and the price quotations are almost the same as that of real estate cotton. Xinjiang cotton is better than real estate cotton in terms of color, length, strength and other indicators, but there are some differences in the way of settlement. The real estate cotton is basically net settlement. Xinjiang cotton is settled by gross weight, and the price difference is 150 yuan / ton.

At present, textile mills are willing to use Xinjiang cotton, the mainland cotton enterprises do not want to substantially reduce sales promotions, there is a wait-and-see psychology, I hope that 7-8 months of high-grade cotton is not available, there will be a wave of good market.