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Unsecure market situation, Bremen Cotton Exchange
23
Jun '11
The New York Cotton Futures Market for nearby delivery was hardly influenced by the latest news on drought in the most important producing regions of the USA and crop reductions during the next season. On the contrary, prices dropped until the beginning of the new season, amongst others probably caused by news from Greece - just like the weaker Euro.

The continuous wait-and-see-attitude of the processing industry which has not been able to incorporate the raw material prices in its products was responsible for this situation as well. Strong daily fluctuations of market prices as well as the above mentioned contrary tendencies impeded the assessment of further price developments for all market participants.

Inter alia due to limited offers business on the domestic market remained difficult especially at the end of this year or for satisfying prompt demand; there were just few enquiries for price orientation.

In the medium staple range Central Asian cotton was sold for near dates as well as for the 2nd quarter 2011. Descriptions from Argentina and West Africa satisfied the demand for the 3rd quarter 2011.

In the LS/ELS-range contracts were closed for Egyptian Giza 86 for prompt delivery, Israel Pima as well as Israel Acalpi for the 4th quarter 2011 and US-Pima for the 1st quarter 2012.

Bremen Cotton Exchange

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