How Does The Threat Of Hurricane Weaken The US Cotton Market?

The net contract volume of US cotton exports in 2016/17 was 36 thousand tons, an increase of 73% over the previous week, 18% less than that of the previous four weeks. The new signing came mainly from Vietnam, South Korea, China (6 thousand and 700 tons), Indonesia and Thailand.

Salvatore cancelled part of the contract.

In 2016/17, the installed capacity of upland cotton was 48 thousand and 200 tons, an increase of 39% over the previous week, an increase of 29% over the previous four week average.

They are mainly shipped to Indonesia, China (6 thousand and 100 tons), Turkey, Taiwan and Vietnam.

Pima cotton net export contract volume in 2016/17 was 5352 tons, an increase of 9% over the previous week, but increased by 35% compared with the previous week. The new contract came from India.

Pakistan, Thailand and Japan.

In 2016/17, the pport volume of Pima cotton was 1610 tons, 3% less than that of the previous week, but it was unchanged from the average of the previous four weeks. It was mainly shipped to China (1066 tons), India, Peru and Turkey.

Cotton futures for Intercontinental Exchange (ICE) fell nearly 3% on Wednesday, the largest intraday drop in more than three weeks, as Hurricane Matthew weakened the threat of damage to cotton crops in the southeastern United States.

ICE 12 month

It fell 2.66%, or 1.85 cents, to 67.82 cents a pound, with a trading session of 67.53-70 cents, the highest since September 27th.

The contract reached a 70 cent mark earlier, for the first time in more than a week.

Gabriel Crivorot, an analyst at Societe Generale, said: "when the humidity in South Carolina and parts of North Carolina dropped by half yesterday, we saw that

Plummet.

Many people are concerned about the trend of hurricanes.

The damage caused by Hurricane Matthew to cotton crops in North Carolina will not be as severe as originally expected, said Louis Rose, independent cotton trader and consultant of Risk Analytics.

Traders are concerned about USDA's weekly export sales figures on Thursday.

The total volume of futures market increased by 4815 to 23127.

Data showed that the total number of open positions increased by 1138 hands the day before, with a total of 248637 hands.