Wednesday ICE U.S. cotton futures rebounded after touching a new low

Wednesday ICE U.S. cotton futures rebounded after touching a new low. The United States in December cotton contract rose slightly by 0.31 cents to settle at 39.45 cents, the highest 39.91, the lowest 36.70.

Mr Cotton 901 contract opened higher today following a high, after the close at 10,600, 10,610 maximum, minimum 10,295, up 2.81 percent. Chinese cotton today (information, market) price index (CC Index328 level) to 10,643 yuan / ton, down 178; CC Index229 level to 11,131 yuan / ton, down 139 yuan; CC Index527 level for 9876 yuan / ton, down 194 yuan. Today, the cotton price index increased again decline in the market to increase fear. For the stability of the cotton market, the country will depend on market demand to increase cotton reserves and careful control of the resumption of imports. Boost by the news, today’s high cotton Cheng Kai-go high. The latest Customs figures show October China’s exports of textiles and garments continued to fall last month than a small reduction of 1,265,000,000 U.S. dollars. The textile industry remains in the doldrums, also improved over time, demand for cotton in the near future can not be changed, the cotton market is still bearish long-term. Zheng cotton is expected in the 10,000 strong point of support, national policy on cotton in the near future the trend will play an important role. Operation, the proposal may be temporarily out of the early short, waiting for the opportunity to enter the market.