ICE cotton futures on the 9th hit a nine-week intraday high

ICE cotton futures fell sharply to close on the 9th, a record intraday high of nine weeks, as traders remained cautious, minimizing risk. March settlement price of cotton fell 110 points to 49.32 cents / pound, 5-month contract settlement price fell 102 points to 49.85 cents.

March cotton opened higher, fell flat in early trading, but then strengthened to a high point of nine weeks. CBOT grain, including the overall strength of commodity prices, including the background, the March contract rose to 50.960 cents / lb a new high, after profits dropped to 49.32 cents / lb day low. Although closed recover some lost ground, but still significantly lower. March contract is expected to continue trading in the 49.03-51.03 level, the range than the United States Department of Agriculture set a global price-adjusted 39.03 cents / lb higher than the 10-12 cents.

The U.S. Department of Agriculture will be held at 8:30 am EST on the 12th released in January crop production report. Analysts expected the U.S. Department of Agriculture will be lowered from domestic and global cotton production is expected, as well as U.S. cotton exports and global consumer expectations. Japanese stocks fell ICE8 cotton 21,049 packets (each packet of 500 pounds) to 714,138 bags, 20,879 test failed. ICE cotton open positions on the 8th increase in 1239 in hand, to 130,378 in hand. Stock trading volume in the hands of 8,173. Options, the call option is estimated that in 4414 hands, puts the estimated 3614 hands.