Home / Knowledge / News / Textiles / Cotton receives support from the higher CRB index
Cotton receives support from the higher CRB index
16
Apr '08
Not surprisingly, we had another quiet and lackluster session. NYF was generally holding firm supported by the overall commodities markets. Chicago grains traded higher overnight, which led to a friendly open on ICE. It then steadily traded higher in expectation of continuous strength coming from the grains re-open.

Crude oil settled at the record high of $111.76 per barrel on Monday, and was challenging the $114 level today. The wholesale prices rose by 1.1% last month against the general anticipation of just 0.4%. The session was trading at around 100 points higher until one hour to options close when a slight cool off was seen.

But it was only temporary as friendly options offered the market some support. All months settled at around 130 points higher by end of the session.

As per the Spec Hedge report as of Friday April 11, the specs have reduced their long positions by 4,800 contracts, and at the same time have reduced their short positions by 13,000 contracts. The net spec position is 10.8% long, up 3% from the week before (please see charts on page 2 in attached PDF). Open interest was reduced by 5,200 contracts over the week with majority of the reduction happening yesterday. The total open interest was reduced by 7,200 contracts Monday to 261,794.

A little nice pop is seen in the technical picture today as cotton received support from the higher CRB index. With only 7 days to K'08 first notice day, the May July rolling is still a major part of the daily activities. May open interest was lowered by an impressive 13,800 contracts yesterday.

Even though the cert stocks level keeps building higher, which is putting pressure on the futures price, the current spread level is a good incentive for trades to carry their inventory to the next cover month, rather than delivering them against their short futures. As what we said before, watch outside commodities markets for direction in cotton.

Click here to view more:

ECOM USA Inc


Must ReadView All

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

JD.com to invest $3.1 bn to revive industry in NE China

Apparel/Garments | On 22nd Jan 2018

JD.com to invest $3.1 bn to revive industry in NE China

To back the government’s campaign to revitalize the traditional...

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Liz Manning

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

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

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

Marten Alkhagen
Swerea IVF AB

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Amiben Shroff
Shrujan

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

January 2018

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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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