Home / Knowledge / News / Textiles / Cotton takes lead from outside commodities market
Cotton takes lead from outside commodities market
09
Feb '08
With March contract options expiration today, the USDA S&D report released early in the morning and the NCC planting intentions to be released in the afternoon, Friday session was the most active and volatile this week. Overnight ICE traded steadily around 20-40 points higher, supported by the firm grains market.

All months traded lower after pit open to form's bottom, then turned direction on wheat's limit up and cotton bullish options. March contract eventually settled just beneath 69 cents. NCC's annual survey of early season planting intentions shows that US producers intend to plant 9.54 million acres of cotton in 2008, down from 10.83 in 2007.

The USDA cotton report is bearish when world ending stocks were increased by 2.6 million stat bales, a 5% change from last month's number. Please see chart on page 2 in attached PDF of this report. US saw a decrease of 0.3 million bales in exports, thus ending stocks.

China's production was increased by 1 million bales, while import was reduced by half million bales and consumption was reduced by 1 million. The noticeable change in the report is that world wheat ending stocks were lowered by 1.2 million metric tons, which supported the wheat market to make another limit up move.

Soybeans and corn also traded significantly higher during the day. With bearish cotton report on one hand and the strong grains market on the other, expectations of the cotton prices are mixed. As we've seen in the past, cotton has been taking the lead from outside commodities market, while fundamentals have not been playing a major role.


Must ReadView All

Courtesy: Good On You

Apparel/Garments | On 14th Aug 2018

Good On You in Oz adds 500 European brands to rating app

Australia-based Good On You’s brand-rating app has recently added 500 ...

Courtesy: USDA/FAS

Textiles | On 14th Aug 2018

US cotton exports in 2017-18 highest in over a decade

Cotton exports from the US in 2017-18 reached their highest level...

India extends reverse charge mechanism suspension by 1 yr

Textiles | On 14th Aug 2018

India extends reverse charge mechanism suspension by 1 yr

The Indian Government has extended the suspension of the reverse...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Rupa Sood and Sharan Apparao
Nayaab

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch 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


August 2018

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

news category


Related Categories:

Advanced Search