European Debt Crisis Pressure Does Not Reduce &Nbsp; Cotton Weak Still

As Germany and France promised to launch new measures to solve the European debt crisis, the euro rose strongly, the US dollar fell, and many commodities rose strongly, providing support. Soft commodities were also one of them.

ICE cotton futures closed 1.36 cents higher on Monday, at $1.0334 a pound, trading at 1.0211-1.039 dollars in the intraday trading session, and roughly $0.98-1.04 in the past 12 days.

On Monday cotton futures trading volume was more than 8000 hands, compared with the 30 day mean lower than 1/3.

Investors returned to the shorts, but the deal was light, and the market is concerned about the key announcement by the US Department of agriculture on Wednesday.

Zheng cotton's main contract was 1205 higher and lower, opening at 20560, the highest 20600, the lowest 20510, closed at 20520, turnover 54840 hands, holding 223138 hands, increasing 4990 hands.

In October 10th, cotton manufacturers in various parts of the country were cautious in entering the market, most of the areas were trading slack, the market was stable, and domestic cottonseed prices were mostly stagnant and partly fell. The current demand for cotton seed downstream products was poor, cottonseed squeezing was in a deficit state, and the oil refinery stopped production and stopped collecting a slight increase in the number of cottonseed prices.

In the near future, the new cottonseed will be listed, and the supply of cottonseed oil is expected to increase. Traders are cautious in entering the market.

In addition, the domestic cotton pulp and cotton lint market has been slack, and the market is stable.

Thanks to investor buying, the price of cotton at home and abroad has mostly risen, plus the recent drop in oil production rate and the reduction in short staple output have provided much support to the cotton lint market.

However, the enthusiasm of the chemical fiber plant and the refined cotton mill to enter the market is still not high, and the terminal demand is not good. It is expected that the short-term cotton lint market will remain stable.

In addition, China's foreign cotton procurement has been reduced, and only a few state-owned enterprises have continued to replenishment. On the 10 th, the price of China's main port of imported cotton has generally declined. Recently, the prices of cotton and cotton in India are relatively stable.

Zheng cotton today's high impact on the external economic environment, intraday concussion, a slight increase in positions, the recent cotton futures market volume more.