Home / Knowledge / News / Textiles / Tropical storm Dolly could influence cotton market in coming week
Tropical storm Dolly could influence cotton market in coming week
22
Jul '08
The commitment reports are continuing to show slight weaknesses. As of Tuesday July 15, non commercials reduced their long positions by 1,154 contracts futures and options combined, and increased their short positions by 4,231 contracts.

Their net long position was thus reduced by 5,385 contracts. Commercials, on the other hand, increased their longs and reduced their shorts to reduce their net shorts by 2,870. Index funds steadily held onto and slightly increased their net long positions.

NYF Monday session was under pressure since open and was also affected by the losses in grains market. However, bullish options dominated today's options pit when futures selling on the screen kept pushing market lower.

The group who bought H'09 100/110 call spreads Friday came in and bought 2,000 lots more at 85 points. They also bought 750 lots Z'08 78 strike calls at 320 points.

More outright calls buying and puts selling were also seen done in the ring. Now is the time that traders are keeping a close eye on any weather news that could possibly influence the market price. According to the GFS model, tropical storm Dolly will make a landfall early Wednesday morning near the mouth of the Rio Grande River.

The heavy rain and strong wind coming with the landfall in South Texas could have negative effect on cotton progress in that area. However, the worst might not be feared since it is currently forecast at category one.

The commodity index started its rally since beginning of June and topped out a month later. Cotton, at the moment and after having lost nearly 10 cents since end of June, seems to have found a comfortable short term sideways trading area.

The trading range is becoming narrower with lower highs and higher lows. This short term range between 72.00 and 74.20 basis Z'08 is likely to hold for the near sessions to come.

Click here to view more:

ECOM USA Inc


Must ReadView All

Courtesy: ITMA 2015

Textiles | On 21st Jun 2018

Italy to host textile machinery fair ITMA in 2023

ITMA, the trendsetting textile and garment technology platform, will...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Interviews View All

Veronique Lee
Modavanti

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

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Marten Alkhagen
Swerea IVF AB

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search