ICE Cotton Continued To Rise For Three Days, The Market Still Focuses On Sino US Trade Negotiations.

According to foreign news on November 26th, the ICE cotton rose third days on Tuesday, and the demand side recovered after the price slump last week, and investors wanted to seek clearer clues from the protracted Sino US trade negotiations.


ICE cotton contract rose 0.15 cents in March, and the settlement price was 65.95 cents per pound. The trading range is between 65.42 and 66.14 cents.


Cotton contracts rose 0.21 cents in December, and the settlement price was 64.90 cents per pound.


"The market is starting to rebound this week," said Jon Marcus, President of Lakefront Futures and Options, Chicago broker.


He added: "people are waiting for the latest news on trade between China and the United States."


Due to the impact of Sino US trade tensions and oversupply worries, cotton prices recorded the largest weekly decline in the past two months.


"In general, demand has increased slightly," he added. No matter what the overall situation of Sino US trade negotiations is, it finally comes to the demand side.


On the morning of November 26th, Liu He, a member of the Political Bureau of the CPC Central Committee and vice premier of the State Council and the leader of the Sino US comprehensive economic dialogue, spoke with the US trade representative, Mr. lettse, and finance minister Mnuchin. The two sides discussed the core concerns of each other and reached consensus on solving the relevant problems. They agreed to maintain communication on the remaining matters in the first stage of the agreement.


Louis Rose, director of research and analysis at Rose Commodity Group, Tennessee, said: "there is little hope for the signing of the agreement between China and the United States this year, so it may prompt the index fund to reduce its cotton reserves during the adjustment period in January next year."


The total volume of cotton market decreased by 4759 to 17417 hands.


Data show that the previous day's holdings increased by 224 to 197537 hands.


As of November 25th, ICE delivered 2 cotton contract stock to 78124 packs, the last trading day was 75029 packs.