Home / Knowledge / News / Textiles / Export sales within expectations
Export sales within expectations
15
Feb '08
Cotton was up overnight based on strong results from Asian equity markets (3-4%) and rumors of new sales done with China back from holidays. Grains were also higher after several down days earlier this week and opened higher in spite of neutral to negative export sales numbers for cotton and the grains.

Along with strong energy and metal prices, the strength of the CRB overall carried into cotton and lead to some local short covering which hit some fund buy stops and before we knew it we were limit up.

There was always a chance there could be a stopper in NY with the majority of the cert stocks having old crop penalties that can compete for nearby shipment and especially for large sales to China? Volume was strong with 72,000 futures and 22,000 options as the strength in March snapped the spreads tighter in the front months and lead to some panic spread trading.

Export sales were within expectations, but grains were way below the 4-week averages especially in wheat, but they still all opened higher after closing strong overnight. This spooked the cotton market and lead to some panic short covering which did not take long to bring out some fund buying with little upside selling.

We have already cleared out the buyers and sellers in this trade channel which has been well worn out over the last six weeks between 67/70 cents based H'08.

There does seem to be a stopper for the H'08 cert stocks which is similar to last year and may lead to another invert in carry charges with H'08 going over the K'08. However, it will be interesting how high the back months can go as there will be good scale up trade selling in the K'08 above 72 and Z'08 above 78 cents.


Must ReadView All

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Strong exports, consumption fuel growth in Asia: ADB

Textiles | On 16th Dec 2017

Strong exports, consumption fuel growth in Asia: ADB

Economic expansion in developing Asia is likely to accelerate to 6...

Nomura  foresees 7.5% GDP growth for India in 2018

Textiles | On 16th Dec 2017

Nomura foresees 7.5% GDP growth for India in 2018

India's economy is on the cusp of a cyclical recovery and will...

Interviews View All

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Harsh Shah

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

Kevin Nelson
TissueGen

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search