Cotton Futures Fell Due To Weak Technology And Poor Weekly Export Data In The US.

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< p > > a href= "http://sjfzxm.com/news/index_cj.as" > cotton futures < /a > fell on Thursday. Due to weak technical selling and export data, global supply is expected to overtake the recent impact of speculators driving cotton prices up.

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The most active July contract of the P (ICE) fell 0.74 cents or 0.8%, at 86.74 cents a pound.

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< p > May contract fell 0.71 cents or 0.8%, at 84.66 cents per pound, traders said earlier that the contract approached the intraday high position of the previous day and failed to step up the technical resistance level.

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< p > < < a href= > http://sjfzxm.com/news/index_cj.as > > market > /a > technology is weak, and index fund extended the market pressure, LOGIC Advisors partner Ron Lawson said that the next contract of technology support in July is close to 83 cents area.

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< p > index fund nearly month contract extension July contract and December contract pressure on cotton prices, and the volume of pactions.

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< p > Thomson Reuters preliminary data show that turnover totaled over 30000, with 30 days averaging about 24000.

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< p > US government weekly a href= "http://sjfzxm.com/news/index_c.asp" > export < /a > data show that cotton sales decreased by 1% compared with last week, and delivery decreased by 25% compared with last week, as of April 4th.

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China's cotton temporary purchase and storage plan, which was formulated by the P, China Development and Reform Commission and the Ministry of finance, showed that the year will continue to be open and closed. The price of the temporary storage and purchase will remain unchanged over the previous year. The quality of the storage and purchase will be carried out according to the new cotton standard, which is in line with the market's general expectations.

The China Cotton Association announced late Wednesday that the purchase and storage plan confirmed that the price of cotton temporary purchase and storage in 2013 was 20400 yuan (weight) per ton of standard grade lint to warehouse.

The execution time of the storage is from September 1, 2013 to March 31, 2014.

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< p > ICE data showed that cotton rose to 441393 packs on Wednesday, higher than last month's high and the highest level since June 2010.

In addition, more than 37000 bales of cotton are waiting for the US Department of agriculture to test.

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