Weather factors offset the downturn in the U.S. cotton exports continue to rise

Published: 9:04:11 August 9,2013  Views: 222

Wanda Futures Du Ying

Although one week as of August 1, the U.S. cotton exports contracted only 18,400 tons of new cotton, shipping only 30,000 tons, showing consumption is still in the doldrums, but the eastern United States cotton rainfall and western Texas drought in the next two weeks will continue to continue to attract speculative buying, overnight ICE Cotton continued to climb, the main December contract up to 89.42 cents / lb, challenging June 89.56 cents / lb high pressure level, closed closed 0.92 cents to 89.25 cents / lb, the continuation of the upward trend has not changed. Currently Chinese textile enterprises high inventory, ICE cotton futures rose sharply to restrict consumer buying cautiously bullish ICE Cotton, concerns Monday night USDA's monthly supply and demand report.

Thursday ICE Cotton continues to rise across the board, the main December contract closed Yang, challenge the previous 89.56 cents / lb high pressure level, the short-term moving average system was arranged long rise, KD and MACD indicators continued rise in long array, MACD indicators Hongzhu growth is expected to continue rising, 12-month contract will challenge the 89(http://www.best-news.us/).56 cents / lb strong pressure, such as finite breakthrough, upside target is approaching 94 cents / lb line, otherwise it will continue 82-89 cents / lb horizontal tray area.

Since March 2014 the domestic purchasing and storage of new policies after the end of the current reserve policy basically established, both inside and outside the spread of cotton will return to the market so strong rise in defiance of international cotton prices, policies, excessive interference cotton Zheng Zheng cotton lose the hedge and hedge features cotton-related enterprises remain sidelines on the other hand, investors are still not optimistic about the post-1405 agreement as the representative of the era cotton purchasing and storage, initiative selling pressure on cotton prices in this case, if the policy is expected to does not change, the future is easy or difficult Zheng cotton rose, Zheng cotton to keep short ideas do not change, every rebound pressure level continue to overweight the forward contracts empty one, 1401 contract term support remains at 19,700 yuan / ton line.

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