Home / Knowledge / News / Textiles / Cotton reflects neutral to bearish expectations
Cotton reflects neutral to bearish expectations
08
Feb '08
Market continues to trade in the recent sideways channel as we await for more news and reports to come out on Friday. Overnight activity was quiet and sales were within expectations at 280K and 200K in shipments with the current commitment season to date on page 2 in attached PDF.

Turkey, China and Mexico were the biggest buyers, but there seems to be only a hand to mouth buying approach nearby and we will probably find sales fall further over the next several weeks with the Far East on holiday. Volume was average today with the majority of activity in the liquidation of H'08 to the back months as the large hedge funds were scheduled to start rolling the bulk of their positions today.

Tomorrow will be the big news on the grains and cotton where we expect a bullish wheat report which explains the strength over the last few days while cotton, corn and soybeans are reflecting neutral to bearish expectations. The NCC acreage estimate

will be announced after the close and we expect the market to close the week in this range based on option expiration and keeping the market away from the majority of calls and puts with strikes at 69 and 70. Unless we see some big surprises in the S&D reports we expect to have a close in the recent sideways range between 67/69 cents. However, depending on the acreage number, we should be in store for a break out of this range next week.

The relative strength index remains near unchanged and prices are holding thelow at the 50-day moving average. We continue to play the range between 67/70 until more information comes out tomorrow. The 50 and 9 day moving averages continue to get closer as we move sideways and possibly try to test the downside looking for sell stops under 68 cents.

Grains will continue to have the biggest impact as we get closer to new crop planting and the fight for acreage and we will have to keep an eye on wheat after three limit up days.

Click here to view more:

ECOM USA Inc


Must ReadView All

Courtesy: Trinity Kubassek from Pexels

Textiles | On 19th Aug 2018

Australian wool production to fall 5.7% in 2018-19

Shorn wool production in Australia is likely to fall by 5.7 per cent...

Courtesy: Next Level Apparel

Apparel/Garments | On 19th Aug 2018

Blue Point Capital recapitalises Next Level Apparel

Blue Point Capital Partners has recapitalised Next Level Apparel, a...

Retailers approaching 100% inventory accuracy: Study

Apparel/Garments | On 19th Aug 2018

Retailers approaching 100% inventory accuracy: Study

With computer vision use cases maturing, Artificial Intelligence (AI) ...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Karan Arora
Karan Arora

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

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


August 2018

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

news category


Related Categories:

Advanced Search