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Tampilkan postingan dengan label cotton for july. Tampilkan semua postingan
Tampilkan postingan dengan label cotton for july. Tampilkan semua postingan
19.41
Cotton Futures Prices Rising in NYBOT and NCDEX over Positive Consumptions
Written By mine on Selasa, 05 Juni 2012 | 19.41
Azocommodity.com - Cotton futures prices in New York Board of Trade (NYBOT) and in India's National Commodity and Derivatives Exchange (NCDEX) may rise in coming sessions on the back of reports over positive consumption of the commodity in China and demand is likely to rebound.
In NYBOT, cotton for July delivery traded up 0.34 cents to 71.25 cents per bushel and in NCDEX, the commodity for June delivery down 0.78% to 957.5 per qtl on 31th May at 15:15 IST
In India, cotton production is expected to be around 35 million tons for 2011-12 and is expected to consume around 23.3 million bales. The rest of the production is expected to be exported.
According to Cotton Council International, export promotion arm of UN National Cotton Council, the natural fibre demand among the middle class people in China is growing and the country is expected to consume round 9.58 million tons this year from earlier estimates of 9 million tons.
But China is expected to produce around 6.4 million tons of cotton for the current year, 13% less compared to last year as farmers reduced the land under the cotton acreage on high input cost.
With this, the imports of the country may rise to 4 million tons this year.
This is likely to raise the cotton futures in US and in India as they are the major exporters of cotton in the world.
Cotton futures fell to their lowest in two-and-a-half years, sapped by a warning over the potential for China selling down some of its bumper stocks, besides broader market liquidation.
New York cotton for July dropped to 66.10 cents a pound in early deals, the lowest since November 2009, before staging a recovery later in the day.
The early decline came on a further day of liquidation in financial markets, sapped by concerns for the trio of Chinese, European and US economies.
"The outlook for global fibre demand continues to deteriorate, and prices are following suit," Luke Mathews at Commonwealth Bank of Australia said, flagging the significance for an industrial, rather than food, commodity of "ongoing liquidation across global financial markets".
In China, the top cotton producer, consumer and importer, the benchmark January lot fell down the exchange limit of 4.0% on the Zhengzhou exchange.
In NYBOT, cotton for July delivery traded up 0.34 cents to 71.25 cents per bushel and in NCDEX, the commodity for June delivery down 0.78% to 957.5 per qtl on 31th May at 15:15 IST
In India, cotton production is expected to be around 35 million tons for 2011-12 and is expected to consume around 23.3 million bales. The rest of the production is expected to be exported.
According to Cotton Council International, export promotion arm of UN National Cotton Council, the natural fibre demand among the middle class people in China is growing and the country is expected to consume round 9.58 million tons this year from earlier estimates of 9 million tons.
But China is expected to produce around 6.4 million tons of cotton for the current year, 13% less compared to last year as farmers reduced the land under the cotton acreage on high input cost.
With this, the imports of the country may rise to 4 million tons this year.
This is likely to raise the cotton futures in US and in India as they are the major exporters of cotton in the world.
Cotton futures fell to their lowest in two-and-a-half years, sapped by a warning over the potential for China selling down some of its bumper stocks, besides broader market liquidation.
New York cotton for July dropped to 66.10 cents a pound in early deals, the lowest since November 2009, before staging a recovery later in the day.
The early decline came on a further day of liquidation in financial markets, sapped by concerns for the trio of Chinese, European and US economies.
"The outlook for global fibre demand continues to deteriorate, and prices are following suit," Luke Mathews at Commonwealth Bank of Australia said, flagging the significance for an industrial, rather than food, commodity of "ongoing liquidation across global financial markets".
In China, the top cotton producer, consumer and importer, the benchmark January lot fell down the exchange limit of 4.0% on the Zhengzhou exchange.
21.00
Prices Commodity Cotton fall as China Curb Inflation
Written By mine on Kamis, 12 Mei 2011 | 21.00
The commodity of cotton prices fell 4 percent as China took another step to curb inflation after consumer prices rose more than expected in April. Investors are concerned that China's latest move to slow its economy will curb demand for cotton in the months ahead. Cotton for July delivery fell 6 cents to settle at $1.443 a pound.
Trading in commodities was driven largely by movements in the dollar. Many contracts pared early losses as the dollar grew weaker during the day. Since commodities are priced in dollars, a weaker dollar makes them cheaper for buyers using other currencies.
China has been battling high inflation for months. It ordered most of its banks on Thursday to increase the amount of money they hold in reserves in an effort to curb inflation after higher-than-expected price rises in April. It was the fifth reserve increase this year.
Global cotton supplies remain tight and consumption is expected to improve this year, according to the U.S. Agriculture Department. China was forecast to produce more cotton this year and buy more from other countries to meet demand.
In the United States, cotton planting has been delayed in several states due to bad weather and flooding.
Penson/FCG analyst Sharon C. Johnson said she believes the impact of higher cotton prices earlier in the year has caught up with the market. The price has fallen about 33 percent since it settled at $2.1515 a pound in early March.
"We suddenly just seemed to run into a roadblock when it came to demand," Johnson said.
In other trading, wheat prices fell after rain was predicted for parts of the Southern Plains where the winter crop has been plagued by dry weather.
Telvent DTN analyst John Sanow believes any precipitation that hits the region may be too late to help the crop. "It is in such poor condition that I just don't see it bouncing back even with some rain," he said.
In contracts for July delivery, wheat fell 23.5 cents to settle at $7.355 a bushel, corn rose 3.25 cents to $6.805 a bushel and soybeans rose 11 cents to $13.4275 a bushel.
Oil prices settled slightly higher. Benchmark crude for June delivery rose 76 cents to settle at $98.97 per barrel on the New York Mercantile Exchange.
In other Nymex contracts for June, heating oil rose 1.54 cents to settle at $2.9137 per gallon, gasoline futures fell 5.89 cents to $3.0639 a gallon and natural gas rose 1.5 cents to $4.256 per 1,000 cubic feet.
Metals were mixed. In July contracts, silver fell 71.8 cents to settle at $34.797 an ounce, copper rose 5.7 cents to $3.9705 a pound and platinum fell $6.80 to $1,771 an ounce. June palladium rose $1.45 to settle at $716.85 an ounce.
Gold for June delivery rose $5.40 to settle at $1,506.80 an ounce.
In Karnataka, price of cotton which had been ruling high for nearly one year, took a sudden plunge at the APMC market here leading to protests from the farmers. Traders, however, complained the falling prices were due to an increase in the inflow of bales into the APMC yard and if the ban on export of cotton was lifted, it may increase.
At a meeting held jointly by Karnataka Chamber of Commerce and Industry and the members of business community under the banner of Karnataka Cotton Association, the members decided to stop purchasing cotton from today.
The President of the Association V P Lingangoudar and Vice President of Karnataka Chamber of Commerce Vasant Ladwa, who led the meeting, moved the resolution for stopping cotton purchase, which was unanimously accepted.
The meeting expressed its deep anguish over the steep decline in the price of cotton said trading would be stopped till the Union Government gave opportunity for export of cotton which was recently banned by the Union Government.
The farmers and traders decided to go on strike on May 13 to express displeasure over the injustice caused due to ban on export.
The members of trading community and the farmers would take out a procession from all APMCs of Karnataka and submit memorandum to the government through TahsiLdar of respective taluks, Mr V P Lingangoudar told reporters today.
He also said another protest march would be held to submit memorandum to the government through the Deputy Commissioner of each district.
The meeting also condemned the decision of raising tax on cotton from four per cent to five per cent.
Trading in commodities was driven largely by movements in the dollar. Many contracts pared early losses as the dollar grew weaker during the day. Since commodities are priced in dollars, a weaker dollar makes them cheaper for buyers using other currencies.
China has been battling high inflation for months. It ordered most of its banks on Thursday to increase the amount of money they hold in reserves in an effort to curb inflation after higher-than-expected price rises in April. It was the fifth reserve increase this year.
Global cotton supplies remain tight and consumption is expected to improve this year, according to the U.S. Agriculture Department. China was forecast to produce more cotton this year and buy more from other countries to meet demand.
In the United States, cotton planting has been delayed in several states due to bad weather and flooding.
Penson/FCG analyst Sharon C. Johnson said she believes the impact of higher cotton prices earlier in the year has caught up with the market. The price has fallen about 33 percent since it settled at $2.1515 a pound in early March.
"We suddenly just seemed to run into a roadblock when it came to demand," Johnson said.
In other trading, wheat prices fell after rain was predicted for parts of the Southern Plains where the winter crop has been plagued by dry weather.
Telvent DTN analyst John Sanow believes any precipitation that hits the region may be too late to help the crop. "It is in such poor condition that I just don't see it bouncing back even with some rain," he said.
In contracts for July delivery, wheat fell 23.5 cents to settle at $7.355 a bushel, corn rose 3.25 cents to $6.805 a bushel and soybeans rose 11 cents to $13.4275 a bushel.
Oil prices settled slightly higher. Benchmark crude for June delivery rose 76 cents to settle at $98.97 per barrel on the New York Mercantile Exchange.
In other Nymex contracts for June, heating oil rose 1.54 cents to settle at $2.9137 per gallon, gasoline futures fell 5.89 cents to $3.0639 a gallon and natural gas rose 1.5 cents to $4.256 per 1,000 cubic feet.
Metals were mixed. In July contracts, silver fell 71.8 cents to settle at $34.797 an ounce, copper rose 5.7 cents to $3.9705 a pound and platinum fell $6.80 to $1,771 an ounce. June palladium rose $1.45 to settle at $716.85 an ounce.
Gold for June delivery rose $5.40 to settle at $1,506.80 an ounce.
In Karnataka, price of cotton which had been ruling high for nearly one year, took a sudden plunge at the APMC market here leading to protests from the farmers. Traders, however, complained the falling prices were due to an increase in the inflow of bales into the APMC yard and if the ban on export of cotton was lifted, it may increase.
At a meeting held jointly by Karnataka Chamber of Commerce and Industry and the members of business community under the banner of Karnataka Cotton Association, the members decided to stop purchasing cotton from today.
The President of the Association V P Lingangoudar and Vice President of Karnataka Chamber of Commerce Vasant Ladwa, who led the meeting, moved the resolution for stopping cotton purchase, which was unanimously accepted.
The meeting expressed its deep anguish over the steep decline in the price of cotton said trading would be stopped till the Union Government gave opportunity for export of cotton which was recently banned by the Union Government.
The farmers and traders decided to go on strike on May 13 to express displeasure over the injustice caused due to ban on export.
The members of trading community and the farmers would take out a procession from all APMCs of Karnataka and submit memorandum to the government through TahsiLdar of respective taluks, Mr V P Lingangoudar told reporters today.
He also said another protest march would be held to submit memorandum to the government through the Deputy Commissioner of each district.
The meeting also condemned the decision of raising tax on cotton from four per cent to five per cent.
