Market Storage And Storage Expect Zhengmian Futures Price To Stand On Tens Of Thousands Of Three

The domestic market: on Wednesday, the main contract of zhengmian reduced volume and volume, and the period price rose, closing at 13025, compared with the previous trading day +2.00%; the highest price was 13085, the lowest was 12765; the turnover volume was 720470, the position was 665000, -11446, CF1-5, the difference was 495, +5.

Outward trend: ICE cotton futures rose slightly on Tuesday, and the most active ICE3 month cotton contract rose 0.30 cents or 0.45%, and the settlement price was 66.50 cents per pound.

News: 1, according to zhuochuang information monitoring, as of October 31, 2019, cotton business inventories in China were 4 million 901 thousand and 700 tons, up 24.38%, up 53.51% from the same period last year. 2, weekly crop growth report released on Tuesday by the US Department of agriculture (USDA) showed that the cotton harvest rate in the United States reached 62% in the week ending November 10th, 53% in the previous week, 53% in the same period last year, and 59% in five years.

On the spot side: cotton price index 3128B price is 13056, and the previous day's spot prices remain unchanged; cotton yarn price index C32S price is 21220, and the previous day, spot prices remain unchanged. (unit: yuan / ton)

Warehouse Receipt Inventory: 12353 warehouse receipts, +399, 3256 valid forecasts.

Position analysis: on the day of the Zheng cotton contract, there were 20 long positions in 384135 hands, +10982; short positions were 465783 hands, +17655, short positions increased sharply, and clear positions held a clear advantage.

Conclusion: cotton futures in the ICE increased by two, traders waited for clear clues about Sino US trade negotiations. Domestic market: seed cotton purchase cost is rising steadily, seed cotton picking and processing is coming to an end, new cotton sale speed is accelerating, but sales are still relatively slow, short term new cotton supply is still loose, coupled with the end of autumn and winter demand for orders, downstream demand is still weak. As at the end of October, the stock of textile enterprises in the warehouse industry was 709 thousand and 600 tons, an increase of 8 thousand and 200 tons compared with the end of last month. Because of the cautious attitude of textile enterprises to downstream demand, the guidelines for the purchase of new cotton are limited and short-term cotton prices need directional guidance, paying close attention to downstream demand and trade relations. Today's rumour is that the cotton price is up, but the news still needs to be studied and not blindly follow suit. On the operation, it is suggested that zhengmian main force should be on the sidelines.