Home / Knowledge / News / Textiles / NY cotton futures witness improved volumes
NY cotton futures witness improved volumes
09
Apr '09
Even better volume was seen Wednesday with over 33,000 contracts traded in NY cotton futures and 12,000 contracts traded in options. The spreads again made up a good chunk of today's volume. The outside markets were improved today with the equity market closed with a modest gain and crude oil closed above the $50 per barrel mark.

Cotton traded in an over 200 point range and settled the session at the top of today's trading range. Ahead of the options expiration tomorrow, May contract closed at 48.72, a new two month high.

The RSI is currently 68 indicating cotton is approaching overbought area. Liverpool Cotlook report indicated that the cotton group as part of the Chinese commodity purchasing delegation has withdrawn from the upcoming trip proposed at the end of this month.

This development is due to the likely denial of additional cotton import quota by the NDRC. The news of the purchasing delegation has been considered a bullish factor to the commodity prices. Though further confirmation is yet to come, the news of the cancellation has not played a big role in the performance of cotton today.

Click here to view more:

ECOM USA Inc


Must ReadView All

Indian govt relaxes cabotage rule for cotton transport

Textiles | On 25th May 2018

Indian govt relaxes cabotage rule for cotton transport

The Government of India has relaxed cabotage rules for transportation ...

Courtesy: Teejay Lanka

Textiles | On 25th May 2018

Teejay Lanka doubles production capacity at Indian mill

Teejay Lanka, one of Sri Lanka’s largest textile manufacturers, has...

Courtesy: Messe Frankfurt/Yarn Expo Autumn edition

Textiles | On 25th May 2018

Yarn Expo Autumn 2018 scheduled earlier

Over 500 exhibitors are expected at the Yarn Expo Autumn 2018, being...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Top executives
Textile industry, India

The event should be organised every year

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Rajat Jaipuria

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Jay Ramrakhiani
Occasions Elegance Wear

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sanjukta Dutta
Sanjukta's Studio

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

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


May 2018

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

news category


Related Categories:

Advanced Search