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Cotton Basic Weakness &Nbsp; Continued Weak Shocks After Market

2011/6/21 16:17:00 40

This week (6.13-6.16), although Dezhou

cotton

The drought in major planting areas has not yet been alleviated, and has basically determined the impact on the future cotton yield. However, the news has not brought more confidence to the market. Under the combined influence of weak global cotton demand, worries about the future economic growth of the United States and the worsening of the Greek debt problem, the US cotton has been repeatedly sold down by investors.

As of June 16th, the US cotton index contract closed 120.18 cents, or 13.47 cents, or 10.07% in December.

This week (6.13-6.17), after the announcement of the Chinese economy and the introduction of the central bank's reserve requirement this week, the futures market could be phased out. The trend of boosting the peripheral commodities was firmer. However, because the domestic cotton fundamentals were too weak, Zheng cotton could not form an effective rebound but continued to shake down.

As of June 17th, the 1201 contract of zhengmian main contract closed at 23715 points, or 835 points, or 3.40%.

Zheng cotton has completed the month of change this week, and the basic contract is weak for the new contract 1201 contract.

Macroscopic

It is hard to get out of a decent rebound if the environment is unstable.

Zheng cotton

At present, it is shaking at 22500-25500 of the large area, but 24000 will be regarded as a dividing line for the upper and lower intervals. If the next two days can confirm that the January contract has dropped 24000, investors can sell short, but if the 24000 support is valid, then a small number of single participation can be recommended. If the price can not be separated from the 24000 front-line, investors will continue to wait and see.