DTN Cotton Close: Lower on Delivery Preps
DTN Cotton Close: Lower on Delivery Preps

DTN Cotton Close: Lower on Delivery Preps

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Το περιεχόμενο του άρθρου δεν είναι διαθέσιμο στη γλώσσα που έχετε επιλέξει και ως εκ τούτου το εμφανίζουμε στην αυθεντική του εκδοχή. Μπορείτε να χρησιμοποιήσετε την υπηρεσία Google Translate για να το μεταφράσετε.

By Keith Brown DTN Cotton Correspondent

The cotton market was sharply lower Friday, mainly influenced by the liquidation of the spot July contract. Friday was the last session before July cotton enters it delivery. Thursday saw a 3%-plus decline in price as on-call fixation offsets dominated the trade. Friday saw more selling in the spot July, as evidenced by its near 2 cent decline. Although the December contract was somewhat influenced by July’s negativity, it was nowhere as bearish as the spot Month.

Next week, December cotton will see planting progress/condition data on Monday, weekly sales and exports on Thursday, then planted acres on Friday. Within all those reports will be the G-20 Meeting in Japan, where Presidents Trump and Xi will supposedly gather to restart the stalled U.S.-China trade talks.

No question cotton’s chart is wounded. With the July contract posting life of contract lows, the disposition of the speculators remains bearish, which will likely carry over into the new Crop. Thus, friendly news will be needed to alter the attitude and directions of traders.

Friday July cotton settled at 61.19 cents, down 2.02 cents, December closed at 65.56 cents, minus 0.40 cent and March ended at 66.39 cents, off 0.37 cent. For the week, December cotton was down 0.19 cent. Estimated volume was 21,800 contracts.

Πηγή: Agfax



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