Interviews
Daily global cotton market report
10 Feb '09
4 min read
Traders await news from the USDA supply demand reports and from a key producer survey of planting intensions. Traders expect little change for the US supply/demand news on Tuesday but world demand numbers are still in question. with slow housing and a continued trend toward "less" discetionary spending from consumers, demand numbers could get worse before it gets better. A surge higher in soybeans and the stock market helped support the market later last week. The national cotton council survey of producer planting intensions will be released this coming Friday.
The commitments-of-traders reports on the weekend showed a slight selling trend from fund traders which is a negative short-term force. Trend-following funds reduced their net long position, while index funds also reduced. Outside market forces were strong with gold, grain markets and the US stock market showing upward momentum last week but cotton just consolidated and we see weakness in cotton developing on days when outside market forces do not help.
The commitments-of-traders reports on the weekend showed a slight selling trend from fund traders which is a negative short-term force. Trend-following funds reduced their net long position, while index funds also reduced. Outside market forces were strong with gold, grain markets and the US stock market showing upward momentum last week but cotton just consolidated and we see weakness in cotton developing on days when outside market forces do not help.
Karachi Cotton Association
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