Home / Knowledge / News / Textiles / ECOM daily cotton market recap - Jan 12, 2007

ECOM daily cotton market recap - Jan 12, 2007

Jan '07
The opening call this morning was expectedly lower following the bearish USDA supply and demand report this morning. March obliged and ticked open some 60 lower initially, before being dragged further down on the re-opening along with March and July pressure.

Funds were decent sellers early on sell stops, whilst the underlying theme was for a lack of bids from any camp. The March careered lower towards 53.00 and actually ticked through this level, however there was some decent commercial support at these levels.

This support was most notably visible in the new crop December, which refused to move in sync with the spot contract, reflecting support from the stratospherically priced grains complex today. Corn was limit up bid on the opening, whilst beans and wheat both touched or neared limit up throughout the session.

Ideas that acreage switches are increasing with every cent rally in grains, and as such hedge funds were very active buyers of the Dec 07 contract.

Following this support, the commercials began to chase the front months up, trying to lift hedges against recent export sales. This buying spurred both local short covering as well as fund buy stop triggers above 54.25, and it was with some surprise that traders looked up to see March over 100 higher after the first hour.

Prices chopped back and forth in positive territory for much the rest of the session, gaining undisclosed support from grain following hedge funds. Itwas finally an active, large volatility day, with an estimated 33,925 contracts changing hands.

Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 22nd Sep 2021

Bangladesh RMG exporters fear losses due to problems at airport

Apparel exporters in Bangladesh are expecting significant losses for...

Pic: Shutterstock

Textiles | On 22nd Sep 2021

Ukraine wants to purchase textile products from Uzbekistan

A business delegation from Ukraine’s Khmelnitsky recently expressed...

Pic: Shutterstock/ Sheila Fitzgerald

Textiles | On 22nd Sep 2021

India to be 3rd largest importer by 2050: UK Global Trade Outlook

India will turn the third largest importer by 2050 with a share of...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Textile Industry, Head honchos

Textile Industry
Head honchos

Led by MMF, Indian apparel exports likely to double in next 3 years

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Shambhu Nath Jha,

Shambhu Nath Jha

Leading research and consulting firm Fact.MR recently launched a report on ...

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Noemi Sanchez,

Noemi Sanchez

Established since 1846, Evlox is a specialised denim manufacturer with its ...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Raghavendra Rathore, Label Raghavendra Rathore Jodhpur

Raghavendra Rathore
Label Raghavendra Rathore Jodhpur

Being one of the first designers to use the "Brand India" positioning for...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

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


Leave your Comments

September 2021

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

Advanced Search