Cotton futures after the Spring Festival performance was significantly insipid

Day 9 after the Spring Festival, the third round of the remaining 900,000 tons restart, the cotton market bull rally once again popular, for two consecutive trading days rebounded sharply. One major 0905 contract opened slightly high at 12,030 yuan, a smooth finishing period price, the price was 10.30 in early trading quickly to try for 12,170 yuan, the latter to maintain the high price of consolidation, and ultimately closed up 1.88 percent to 12,165 yuan, while significant increases in day to 6504 hands.

Postganglionic restart

Day 9 National Open third round of the remaining cotton postganglionic work, plan the day 30,000 tons of cotton and all the transactions. Xinjiang, which traded 10,000 tons, 20,000 tons Mainland turnover, transaction price of 12,600 yuan / ton. According to Cotton network statistics, as of yesterday, the third has traded 625,650 tons. since 2008 since the beginning of the year, the Mainland has accumulated 724,050 tons plan , Xinjiang totaled 1,121,600 tons.

One benefit from the central document boost last week after another out of most of agricultural products market rebound. The cotton futures insipid performance significantly, the price was not until last Friday suddenly try for the approach of trading to close rose to 12,010 yuan, while the one this week, futures prices are significantly strong.

Mao Guoliang futures analyst Wang said that the postganglionic restarting work, and completed the same day admission program reserves. At present, cotton fundamentals and not much change in the spot market is still functioning support, this is also a major factor in the market rebound, but in 0905 the main contract too short, which also explains the main fund was not active.

Pupil differences increase

Quotes of the Day 9, the main force of 0905 full-day contract hand rose to 6504 shows that the market has become increasingly divided. After-hours trading data, long seats, ranking first in the Valley Futures 386 more single-hand, the second of Zhejiang Zhongda 400 more single-hand, third place in the international futures increased more than 111 single hand. Short, the top three international futures, Green Futures, JP Morgan Chase increased by 825 single-empty hands, 400 hands, 100 hands.

In addition, more than an unprecedented 20 of the positions above, the top 20 multi-day 9 compared with the previous trading day increase in 1239 holding positions in hand to buy, while the top 20 holders of short selling positions increased even more, reaching 2986 in hand.

Jinshi futures, general manager of R & D center in Shanghai Dong Zhi think yesterday the market showed substantially increase Pupil differences. In the bull, the export tax rebate is raised to 15% of National policies gave support market confidence. Secondly, the Lantern Festival, many businesses have started, the market increased Inquiry market warming, consumption is also a cyclical rebound. In addition, the technical bull with, but also to short-term multi-technical buying opportunity.

However, in short, the Mainland market, cotton prices of around 11,500 yuan, while the State Reserve of the purchase price in 12,600 yuan, after deducting the cost of register receipts, etc., have at least 400 ~ 500 yuan of profit, which enables participants in the futures market can be far period of the contract for sale. In addition, the long-term look, consumer expectations, the textile export market is still worried.

DONG Shu-chi further said that the short term strength will gradually increase in short, long positions will also homeopathy, 12,800 yuan will become a short-term resistance.