Ruida Futures: Zhengmian Slightly Increased And Continued To Narrow.

domestic

On the 24 day, Zheng cotton 1501 contracts rose slightly, opening at 13790 yuan / ton, closing at 13830 yuan / ton, up 15 yuan / ton compared with the previous trading day, trading volume shrinking slightly, and holding positions 15032 to 424922 hands.

Outward trend: the ICE cotton rose on Thursday, as the weekly report of the US Department of agriculture showed that export growth was slightly higher than expected.

Index ICE-12 cotton rose 0.36 cents, or 0.6%, at 63.04 cents a pound.

Message side:

1, the US Department of agriculture (USDA) released the report on cotton export sales on Thursday. As of October 16th, the United States sold 78700 net exports of cotton exports in 2014-15, and sold 2400 packages of cotton exports in 2015-16.

In the week, the United States exported 98100 bales of cotton exports in 2014-15.

2, as of October 22nd, the purchase price of seed cotton of 400 cotton seed enterprises in Anhui Chizhou seed remained basically unchanged at 3.05-3.20 yuan / kg (39% of lint, 1.3% of impurities and 15% of moisture), and the purchase price of cotton merchants to the countryside was between 3.00-3.10 yuan / kg, while the 200 cotton purchase price was almost the same as that of cotton traders.

Aspect: cotton index 3128B price is 14768 yuan / ton, compared with the previous trading day.

Summary of the views: the NDRC's recent policies are supportive of cotton prices and will not be sold until March 2015, which will boost the futures of Zheng cotton in recent months.

Technically, Zheng Mian 1501 contracts slightly increased, short-term shrinkage continued to maintain, maintaining 13750 yuan / ton line of support near the judgment.

On the short line, bargain buying.