26 ICE Cotton Review: First Expand After Pressure Expect Planting Intention Report
周四（3.26)ICE 美國期交所棉花收市疲軟。棉商做空能量把市場拖至負(fù)區(qū)間，盡蝕早盤漲幅。最活躍的 5月合約收跌 62 點(diǎn)，每磅報(bào)于 43.96 美分。
On Thursday morning, the US Department of Agriculture issued an export sales weekly, which is better than expected and provides support for cotton trading. The US Department of agriculture's export sales weekly released on Thursday morning showed that it exported 321300 bales in 2008-09. Sharon Johnson, an analyst at Atlanta first capital group, said the report was pretty good. Some market people used to expect the number of exports to be between 150000-200000 packages.
Meanwhile, from the morning to the cotton market, the US stock market strengthened. In the morning, the good stock market provided some support for cotton trading. But cotton prices began to drop sharply in the middle of the day. SFS futures analyst Mike Stevens said that the short selling of cotton traders is the main factor in changing the direction of the cotton market. He pointed out that the revised world cotton price (AWP) will be re priced on Thursday afternoon, which may increase to 33.83 cents. Thursday's AWP/ cotton price difference is good, which stimulates cotton traders to make short before AWP re pricing.
同時(shí)，另一位分析人士指出，從大局看，巨大的世界期末庫存依然對(duì)棉花市場形成壓力。市場人士在等待下周二美國農(nóng)業(yè)部發(fā)布的種植意向報(bào)告。報(bào)告發(fā)布之前，市場處于一種消磨時(shí)間的狀態(tài)。
One analyst said that due to the shift of market focus to supply situation in 2009/10, we should now form a bottom. The market sees more restraining factors.
One analyst estimates that the planting area is between 880-790 acres. However, considering the abandonment of the area, the output should be between 1220-1250 packages, down from 19 million packages of the previous year.
News, on Thursday, the national cotton Commission reported that the annual cotton consumption of the United States textile mill was adjusted to 3 million 900 thousand bales (480 pounds) in February, lower than the 4 million 527 thousand cotton package in the same period last year. One analyst said the figure was rather poor.
Cotton consumption in February was 3 million 670 thousand less than that in January. The cotton Commission adjusted the amount of cotton used in January, with an unadjusted figure of 3 million 580 thousand bales.
The exchange reported that ICE cotton turnover was about 13483 hands. Option trading, call option is about 041 hands, put option is about 2152 hands.
Closing price range
05 months 43.96 -62 44.94-43.72
07 months 44.89 -68 45.89-44.65
Editor in chief: Xu Qiyun
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