Ruida Futures: Long And Narrow Stalemate Zheng Cotton Narrow Finishing

Trend: 10, zhengmian 1501 contract narrowly arranged, opened at 13720 yuan / ton, closing at 13680 yuan / ton, compared with the previous trading day rose 45 yuan / ton, volume decreased significantly, the position reduced 456 hands to 424286 hands.

Outward trend: ICE on the Intercontinental Exchange () continued to rise on Tuesday, the two day increase of two weeks and a half the largest, because investors worried about tight supply in the short term, offset the expectation of another year's excess production.

The most active ICE-12 month cotton contract rose 0.74 cents, or 1.1%, at 65.79 cents a pound.

Message side:

1.

Cotton Association's latest survey shows that China's cotton production is estimated to be about 6 million tons this year, a decrease of 1 million tons, or a decrease of 14.2%.

2, it is understood that the 143 groups of cotton planting area of 100 thousand acres, 100% implementation of machine mining.

In order to successfully sell seed cotton, the 143 group joint processing plant adopted the mode of machine production and Cultivation for cotton cultivation. In order to meet the needs of processing cotton production and processing by 100%, this year invested 10 million yuan, and 4 cotton processing workshops were upgraded and upgraded.

Goods in stock

The cotton index 3128B price is 16921 yuan / ton, down 12 yuan / ton compared with the previous trading day.

Conclusion: high inventories inhibit the domestic cotton market, and the direct subsidy rules also drag on the cotton market.

Technically, Zheng cotton 1501 contracts remain weak in the short run, and the 5 day moving average constitutes a repression.

On the operation, wait-and-see is appropriate.