The Reserve Price Limit Of 18000 Has Been Set &Nbsp; Zheng Cotton September Contract Risk Increased.

Zheng cotton

Get rid of overnight cotton impact, opened briefly after the sharp decline, and maintained to close, the first time in September of last month apparent reduction.

international

Market, driven by favorable housing market data, the US stock market rose last night, so the market has risen for third consecutive trading days.

According to the data released by the US government, sales of new homes in the United States in June were better than expected, and sales of new homes increased by 23.6%. In addition, most European banks passed the test of pressure. The US dollar continued to go down and tested the support of 82 points, which led to the differentiation of commodity markets, industrial products and soft commodities, and adjustment of agricultural products. Cotton, as of July 23rd, the ICE net cotton speculative net short term announced by the exchange increased by 0.4% to 2.7% over the previous week, and the excellent and good rate of cotton released by USDA as at July 25 was 68%, the same period was 46% in the same period last year.

domestic

From the market perspective, in the near future, under the calm performance of the spot market, futures cotton, especially the sharp increase in warehouse position in September, has aroused concern among all parties. It is reported that the national development and Reform Commission convened the relevant departments to discuss the issue of throwing and storing cotton this morning, and is expected to get the final implementation. According to the information obtained, the 18000 yuan maximum price sell-off policy will be put in 15 thousand tons / day. If it stays basically 2 months in accordance with the previous 600 thousand tons, the new flower will be listed on the market. In the afternoon, the main members of Zhengshang will hold a meeting to discuss the risk control problem of 1009.

In the current spot prices maintain relatively stable, futures cotton prices next relatively high shock, holding a smooth reduction in the position, will be the best result, otherwise, prices due to the related policy falls, will be very unfavorable to the normal development of future cotton.

The price limit sell-off may lead to wait-and-see at the present stage, and will lower the spot price and throw the reserve price. But before the new cotton goes public, it will be 1000 yuan or even 2000 yuan to 16000 yuan.