Wait-and-See Attitude

Once again the cotton merchants reported on marginal demand which led to contracts only in a few cases. Cotton for near dates could still be offered at high prices only. It seemed as if the spinning industries concentrated their hopes on the new crop. It is assumed that more polyester yarns are currently employed to be able to extend the existing cotton stock and to bridge the time-gap until the new crop might influence the prices in September/October.

In the medium staple range West African and Central Asian cotton was sold for near dates as well as for the 3rd quarter 2011.

In the LS/ELS-range contracts were closed for Egyptian Giza 88 and Sudan Barakat for the 3rd quarter 2011.