Cotton Futures Have Fallen, Dragged Down By Speculative Selling.

　 According to New York December 6th, Intercontinental Exchange (ICE) Cotton futures On Monday, it fell for the first time in four trading days, which was dragged down by speculative selling, but the market volume remained moderate, as the market waited for the late US Department of agriculture's monthly supply and demand report released later this week.

Index ICE the cotton contract in March fell 1.91 cents, at 1.3043 dollars per pound, and the trading range was 1.2803-1.3534 dollars.

In the past three transactions, cotton futures were closed at the same time, cotton futures were also second of the Reuters-JefferiesCRB index components, and cotton futures have risen 72% since the beginning of this year.

Since last Monday, turnover has been about 50% lower than the 30 day average.

Preliminary data show that the total turnover is about 25600 hands on Monday, compared with an average of about 36000 on the 30 day and nearly 30% lower.

"The market is in the process of consolidation," said Ron Lawson, an analyst at logicadvisors.com.

Traders say the cotton market will pay attention to the weekly crop growth report released by the US Department of agriculture on Monday, 2100 GMT, despite the United States. cotton Most of the harvest has been completed.

China Cotton market No guidelines were given for the cotton trend. Zheng cotton's May contract closed at $26910 per ton on Monday, up 205 yuan.

Market participants will focus on cotton planting prediction in the spring of 2011, such as the United States and China.

Informa Economics raised US cotton planting estimate to 12 million 200 thousand acres in 2011, a four year high, which is 12% higher than that of 2010 cotton sowing area of 10 million 909 thousand acres.