Home / Knowledge / News / Textiles / Good chance for Northern hem crop
Good chance for Northern hem crop
Aug '08
After three very strong trading days with wide ranges and good volume, we slipped back into a quiet day and may be setting up for a new sideways trading range. There seems to be good support scale down under 69 and this will continue to be tested.

However, there is also good scale up selling above 70 cents so the range will be very tight in the short term. Business has slowed down a little as we have seen open interest come down heavily the last two days. Volume was under 10,000 in futures and options today as there looks to be mostly hedge lifting taking place and not any new shorts like we suspected.

The USD made a 6 month high today, but there seems to be plenty more bad news coming out of the financial sector which should keep the stock market in check and may allow the commodity hedge funds to stop liquidating and even possibly put some money back in after 20% sell offs in several sectors.

Technicals continue to look negative in the short term, but after the limit up bounce yesterday, it is obvious that the fundamental picture is looking better and good size demand was uncovered at these price levels. Along with a hot dry August left to grow the Northern hem crop, there is a good chance the market will continue to find support under 69 cents.

If that is the case and we can hold that area on a few more tests, we should try and climb back and test the upper end of the range at 72 cents scale up. However, if the commodity complex continues to slide lower, Z'08 will have trouble sustaining rallies and should move lower into expiration.

Click here to view more:


Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Marcel Alberts

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marten Alkhagen
Swerea IVF AB

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

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

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search