Cotton Prices Will Not Sell.

At present, the origin and supply of various cotton varieties are still quite abundant, but it is difficult to find buyers. In order to clear up the stock, many cotton traders have lowered the Brazil cotton base to a low level for many years. The West African cotton basis is also weaker than before, but it is still strong compared with other regions, and cotton traders still hope that they will not cut prices.

At present, only the US cotton remains stable, and the base is normal. This is mainly due to the continuous procurement in China and Vietnam. As long as China continues to implement the first phase of Sino US agreement, the ICE futures contract in December will remain relatively stable. India CCI holds 2 million tons of inventory, which is being sold at a low price, but so far there has been little turnover. If prices continue to depreciate, these cotton will enter the spot market in large quantities.

Affected by a series of factors, Brazil cotton Asia's main port quotas fell sharply, while the West African hand picked cotton base remained quite strong under the condition of difficult inventory. At present, cotton traders continue to empty Brazil cotton stocks in order to prepare for the 2020 harvest of new cotton. In recent years, Brazil's low cotton production and active domestic demand made its year-end base strong. Although the export volume of this year is expected to be high, the demand for the West cotton in the epidemic is far less active than before. The turnover is mainly from Pakistan.