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Calm trading in Bremen cotton market
02
Mar '12
The ICE-May-contract that had come on focus has rebounded again after a considerable decrease last week. Prices for the expiring March-contract as well as the Bremen CIF Index have remained more or less stable.

Price volatilities on the New York Cotton Futures Market are probably generated by technical reasons and development of the competing crops at the moment. The US-dollar quoted slightly weaker. Prices have remained rather firm at origin, especially for the most wanted varieties.

The pressure exercised by cheap import yarns has been reduced at least partly according to reports of European processors. Interest in purchases was registered on the market, yet uncertainty concerning the future price development predominated. Despite this difficult situation the turnover on the local market has developed a little better than during the previous reported week. The trend to close contracts only for nearby delivery has yet remained.

The following proveniences and dates were traded in the medium staple range: Brazil and Argentina for prompt delivery as well as the 1st quarter 2012, Central Asia and West Africa for prompt up to the 2nd quarter 2012.

The LS/ELS-market registered purchases of Egyptian Giza 86 and Giza 88 as well as Sudan Barakat for prompt and the 1st quarter 2012.

Bremen CIF Index

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