Xinhua Futures: Cotton Research And Development Viewpoint 05-30

rebound

Closed up, the recent contract settlement price in July was 152.67 cents / pound, up 164 points, 1112 months contract 129.5 cents / pound, up 193 points.

On the 30 day of May, the cotton market will be closed for a day because of the memorial day of the American soldiers.

Zheng cotton

CF1109 contract opened slightly lower, early morning bullion buying in support of the rise, afternoon short cut back to support the higher price, the daily line formed a small line, the volume of intra day trading shrinking, holdings reduced; zhengmian CF1201 contract opened early, intraday buying in the long drive to push up, adjusted once in the afternoon, the end of the rally rose, the daily line formed a shadow line on the 1/2 line, the volume of intra day trading volume increased, holdings increased.

The CF1109 contract concluded 791070 hands on the day, 28204 on the day, and 358718 at the end of the contract. The CF1201 contract day was 950794 hands, the second hand was 16768, and the final position was 218736 hands.

Spot market

There has been no wave, but the rebound of electronics has boosted part of the confidence, and some areas still have slow procurement.

At present, the drought in the Yangtze River basin also brings some support to the market. The continuous drought will affect the output and quality of cotton in the new year.

On the 26 day, China's cotton price refers to (CCIndex328) 24479 yuan / ton, down 23 yuan, 527 cotton to plant average price 22598 yuan / ton, down 22 yuan.