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ICE&Nbsp; The US Cotton Was Slightly Stronger &Nbsp; The Stock Market Became Popular.

2010/8/9 21:13:00 35

ICE Cotton Stock Market

 

Friday (8.06) ICE us

Stage cotton

With a slight improvement, storage cotton continues to be tight and the hot weather in the southeastern region provides support for the cotton market.


Cotton rose 0.20 cents in October, or 0.24%, at 84.40 cents a pound.

The most active December contract rose 0.17 cents, or 0.21%, to 80.23 cents a pound.


The recent strong food has stimulated the follow up buying, and the hot weather has caused concern.


Lewis, Anna's independent cotton broker and analyst Mike Stevens, said that cotton in Georgia, Virginia and Northern North Carolina is under high temperature pressure, and cotton growth is worrying.


He said that Dezhou is the largest cotton producing state, although the planting area is still very large, but Dezhou's

Cotton yield

Experts began to worry that cotton leaves began to yellowed in the western part of the state.


A broker said that after December cotton rushed to the highest point of 81.78 cents, the maintenance of technology overbought phenomenon may be adjusted to 77 or 76 cents at any time.


  

cotton

The increase was hamper by the ups and downs of the Chicago stock exchange, and wheat futures fell 7.6%.

Cotton and corn and soybean compete for land.


Market participants expect the US Department of agriculture's production report released on Thursday. This is the first prediction report on this year's output released on the basis of the survey.

The US Department of agriculture now estimates that cotton production in the United States increased by 36% in 2010 compared with 2009, although the global demand is expected to digest the supply of cotton quickly.


ICE cotton daily inventory reduced by 9123 (500 pounds) to 30440 packets.

The US Department of Agriculture reported that the 8673 package was revoked.


This year, the ICE certified warehouse has reduced its stock of cotton by more than 90%, and the appetite of the world's textile production has been expanding. Therefore, the United States exports more cotton.


ICE reported that the volume of empty disk increased by 6980 to 185927 of the total contract.


The exchange reported that cotton futures traded about 11484 hands, options trading, call options about 2281 hands, put on about 2362 hands.


ICE closing price ups and downs


October 84.40 +20 83.65-84.62


December 80.23 +17 79.45-80.71


03 month 78.81 +81 77.80-78.85

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