Cotton Review: ICE&Nbsp; Extended Trading &Nbsp; Nearly Falling Far Higher (5.26)

On Wednesday (5.26) ICE the US cotton futures market was mixed. Investors sold the recent July contract to buy a lower price December contract.
The recent cotton delivery in July fell 0.23 cents, or 0.3%, to 81.84 cents a pound. The December contract closed up 0.78 cents, or 1%, at 78.93 cents a pound.

Since May, cotton has fluctuated between 79-84 cents in July. Because demand is expected to exceed production this year and next year, textile mills buy at lower prices and provide support to the market. The July contract represents cotton that can be used at present. Cotton represents autumn picked cotton in December. Market participants sell July to buy December. At present, cotton planting progress has been completed by 60%, and the December contract faces more risks, mainly due to the risk of summer weather changes.

According to the current situation, the price gap between July and December narrowed this week.

Rogers Pepo Werner, President of the Cleveland brotherhood of Varna, Mississippi, says demand is coherent, but the weather is coherent.

Wednesday, July - December the price difference fell 1.01 cents, at 2.91 points.

Market participants expect that the US Department of agriculture's sales of US cotton exports on Thursday morning will show a large sales volume.

The exchange reported that on Tuesday, the ICE cotton daily stock increased by 7596 (500 pounds) to 1 million 75 thousand packets, 36214 to be certified, and 2706 to withdraw.

The exchange reported that Tuesday's ICE cotton position, which has not yet been liquidated after the market, has been reduced by 332 to 189973 hands.

The exchange reported a turnover of about 18064 hands in cotton futures. Option trading, call option is about 5179 hands, put option is about 4954 hands.

Closing price range
07 months 81.84 -0.23 81.76-82.90
October 78.15 +0.62 78.09-78.48
December 78.93 +0.78 77.77-78.99