Home >

Italy'S Debt Problem Depressed Market &Nbsp; Cotton Market Fell Sharply.

2011/11/9 15:18:00 21

7 days ICE cotton again received European debt

crisis

The impact of Italy's fiscal health has led to the latest worries in the market, resulting in pressure on the cotton market.

The price of spot upland cotton has rebounded moderately, and the price of individual producing areas has been stable.

First, ICE cotton look back.

On the 7 day, the market was worried about the European debt crisis and the selling was suppressed. The ICE cotton fell completely, the main contract price of 1112 months settled 96.76 cents / pound, fell 198 points, the 1203 month contract settlement price 96.88 cents / pound, fell 158 points, and other forward contracts were all down, closing down 12-116 points.

The opening of the market was narrow and the main force was 1112 months to 98.96 cents / pound (+22 point), and after the afternoon, the selling pressure led to a fall in the cotton pressure. The contract fell below the support of 98 cents / pound, to the lowest 96.51 cents / pound on that day.

closing line

The contract was partly offset by the support of the purchase, but the rebounding limit finally dropped sharply. The settlement price was below the 1203 month contract for the first time.

External market

Ups and downs

Soybean and corn futures fell and wheat and crude oil rose.

Two, spot review

On the 7 day, the CotlookA index was 108.45 cents / pound, up 40 points.

The price of Upland Cotton generally rebounded moderately, cotton prices in India and Tanzania remained stable, Israeli Pima cotton prices fell, and other staple cotton prices remained stable.

Influenced by festivals, most importing countries are still very light enquiries. Only a small number of enquiries were made in China, but fewer pactions were made.

On the 7 day, the imported cotton price index (FCIndex) SM level was 118.69 cents / pound, up 65 points; M class 113.16 cents / pound, up 69 points; SLM class 112.44 cents / pound, up 115 points.

Three. Dynamics of countries

In the southwestern cotton region of Dezhou, the weather was fine last weekend, making it easier for picking.

According to statistics from the US Department of agriculture (USDA), the overall picking rate of US cotton reached 70% on the 6 November, up 1 percentage points from the same period last year. The largest cotton picking area in Dezhou picked up 67%, an increase of 9 percentage points over the same period last year.

Four, others

By November 4th, the net bullion rate of ICE cotton was 5.3%, down 0.9 percentage points from the previous week.

As of the week, speculative net positions were 8705, 1661 less than the previous week.

Accumulative open positions 164873, increased by 3459.