Home / Knowledge / News / Textiles / ECOM daily cotton markets recap - 19th June, 2007

ECOM daily cotton markets recap - 19th June, 2007

20
Jun '07
Market was trading much lower electronically this morning as much as 90 pts down on the N'07 and Z'07. This was blamed mostly on favorable weather that arrived for grains and cotton this week which had much more of a negative effect on soybeans and corn which were both down over 20 cents.

The market worked its way back up, but the N'07 struggled all day breaking under 54.00 c/lb. and allowing the spread to widen back out to a high of 500 pts from a low near 430 pts at one point in the day. Open interest in N'07 came down yesterday over 7,000 contracts to reach under 20K and total open interest was 207K.

Electronic trading exceeded open out cry with 17,000 contracts compared to 10,000. Options were neutral to bearish today with a combined volume near 8,000. Most of the activity was related to the roll as we have 3 trading days left before FND. Certificated stocks are growing so there does not seem to be a strong stopper and this may allow the spread to get back out to the levels where it traded between 550-600 pts.

over 2 weeks ago. The spec hedge report will be released tomorrow after being delayed because of option expiration. This will be very important to determine how much ammunition the specs have left as we have started to reach overbought conditions with the RSI and demand has slowed considerably along with favorable weather in the Delta and West Texas.

The next big report that could influence NY will be the USDA acreage report on June 29th if it comes in much lower than the estimate made at the end of March of 12.147 ma's.


Must ReadView All

European Commission proposes new EU GSP for 2024-2034 period

Textiles | On 24th Sep 2021

European Commission proposes new EU GSP for 2024-2034 period

The European Commission recently adopted the legislative proposal for ...

Pic: EURATEX

Press Release | On 24th Sep 2021

EURATEX president Paccanelli urges for support to tackle energy crisis

European Apparel and Textile Confederation (EURATEX) has announced...

Pic: Shutterstock

Apparel/Garments | On 24th Sep 2021

UK competition watchdog to crack down on green fashion claims

To help businesses understand how to communicate their green...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Mumin Can Eker,

Mumin Can Eker

Maseksport Inc is a readymade garment exporter. Founded in Izmir in 1989,...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Ritu Oberoi,

Ritu Oberoi

Established in 2018, Forsarees is a socially driven business enterprise,...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

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

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Gaurang Shah, Label Gaurang Shah

Gaurang Shah
Label Gaurang Shah

Hyderabad based designer <b>Gaurang Shah</b>, has been traversing the...

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


September 2021

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


Advanced Search