ICE Cotton Closed 26 Days "Four Consecutive Ups"

Driven by the buying of investors, the ICE cotton futures closed 26 days ago and returned to the recent trading range.

Integrated media reported on October 26th that the ICE cotton futures rose 26 days on fourth consecutive days, which helped investors to buy. Analysts said that the cotton futures contract returned to the recent trading range.

ICE index December Stage cotton It was 0.64 cents, or 1.0032 dollars / pound, in the trading range of 0.9948 dollars / pound to 1.0073 dollars / pound. The contract between Japan and Japan reached a high level of $1.0063 / pound on the 25 day.

The contract fell nearly 3% on the 20 day and closed at $0.9686 / lb, the lowest spot contract since September 2010.

This is the first time in December that the contract has broken through 0.98 US $/ lb to $1.04 / lb in the past 4 weeks.

Independent cotton analyst Stevens (Mike Stevens) said that in December cotton contracts returned to 0.98 U.S. dollars / pound to 1.04 U.S. dollars / pounds of the recent trading range.

　　 dealer When the cotton could not fall to $0.96 / pound, trade buying would be pushed back to the psychological barrier of 1 dollars per pound. One dealer said that the December contract might have enough strength to return to $1.02 / pound, but could not reach $1.04 / pound.

The initial data of famous media showed that the turnover volume of 26 days exceeded 11400 hands, which was 15% lower than that of 30 days.

Analysts say the market appears to be waiting for the outcome of the EU summit. Before the end of the meeting, investors in financial markets were uneasy, and the conflicting prospects of the crisis solution had stalled most financial assets.

ICE data show that as of October 25th, Cotton market The open position is 159357 hands, the highest since June 9th.

ICE data also showed that 25 cotton turnover was 25631 hands, the previous day was 13055 hands.