Home / Knowledge / News / Textiles / Big changes in the cotton S&D numbers
Big changes in the cotton S&D numbers
07
Feb '08
Markets overnight in Asia were taking profits in front of the long holiday for Chinese New Year starting tomorrow. Europe managed to stay mostly unchanged and even the U.S. markets opened higher until a member of the Federal Reserve made a comment in the afternoon about the difficulty to lower interest rates further with the growing threat of inflation.

This put the market on the defensive and erased the earlier gains and pushed the market to new lows. Cotton also made a rally early and found buy stops above the sideways trading range we have been locked in for several days. However, the gap near 70 cents above the market held strong as the soybeans and corn also tried to follow and set new highs, but were unable.

Volume was above average with 44,000 futures and 23,000 options as we prepare for the large hedge funds to start rolling the H'08 with over 100k in open interest and only 11 trading days until first notice day.

The action in cotton today, made the bears more comfortable that we may have put in a high short term as the upside resistance at 70 cents seems strong enough to hold up and we may go back and test the downside of the range. We are expecting an average export sales report tomorrow possibly between 200/300k with 200/250k in shipments.

However, the big news will be coming out on Friday and even though we are not expecting any big changes in the cotton S&D numbers, the grains will be much more important, just like they werelast month. The acreage report will not come out until after the close on Friday which will also be a big factor next week.


Must ReadView All

Courtesy: American & Efird

Textiles | On 20th May 2018

A&E introduces Repel

American & Efird (A&E), a global leader in industrial sewing thread...

Archroma working with House of Denim Foundation

Textiles | On 20th May 2018

Archroma working with House of Denim Foundation

Archroma, a leader in colour and specialty chemicals, has joined...

Courtesy: Amazon

Textiles | On 20th May 2018

Amazon opening first fulfillment centre in Tucson

Amazon.com is opening its first fulfillment centre in Tucson, which...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search