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The Commodity Market Is Showing A Trend Of Turbulence, And Cotton Has Fallen Sharply.

2010/12/23 15:05:00 71

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On Thursday morning, the commodities market generally showed a trend of turbulence. Cotton fell sharply under the influence of the external market. Zheng Tang continued yesterday's rally and continued to attack. Rubber, Shanghai copper and other varieties all fell back.

New lake futures analysts believe that two days after this week will be closed for 24 days.

paction

Japanese and US cotton futures investors will close their positions before the end of the festival, and prices will drop somewhat. From this point of view, Zheng cotton also has the pressure of callback.

Yesterday, after Zheng cotton 1109 callback, the spot price spread back to 291 yuan / ton, under the premise of spot trading light, futures small premium is a reasonable range. Yesterday's decline of Zheng cotton can be regarded as the futures market return to cotton spot fundamentals.

Since the beginning of the 24000 round of the rebound may have ended in today's adjustment, before the Spring Festival, the terminal textile and garment processing links before the obvious improvement, the entire cotton industry chain is now difficult to recover, it is expected that the market will maintain broad shocks.

The author expects that the bottom area of the shock interval is between 27000-27500 and the top is between 29000-29500.

Considering that the gap between supply and demand is difficult to supplement at the end of the year, if we can go back to below 27000, we will still have more opportunities to enter.

rubber

Oil prices rose to their highest level in more than two years due to reduced supply and improved economic prospects, Wednesday's NYMEX crude oil.

futures

At the top of $90 a barrel, crude oil futures in NYMEX-1 rose 0.66 US dollars to $90.48 a barrel, or 0.73%.

On Wednesday, the TOCOM rubber contract fell slightly, as some investors locked in profits but fell only because of fundamentals.

The new benchmark June contract closed at 413.5 yen per kilogram.

domestic

rubber

1105 of the main contract opened low, most of the intraday shocks, the highest in early trading rose to 37275 after the shock dropped, the closing market closed down 0.36%, the price of 36960 yuan.

On the spot side, the total latex sheet volume in the rubber market today is 829, slightly lower than the previous day's volume, the average price of the list is 35625 yuan / ton, slightly higher than the previous day; as of noon, the whole rubber latex Market in the rubber market has no volume, and yesterday's total latex turnover is 1052, slightly higher than the previous day, the average price of the paction is 35709 yuan / ton, higher than the previous day's price.

Zheng sugar

Today, Zheng sugar 1109 contracts go higher and higher.

It opened at 7082, the highest 7172, the lowest 7070, closing at 7147, up 119 points from the previous trading day (+1.69%).

The index of sugar index increased 41108 positions daily, with a turnover of more than 1 million 130 thousand hands.

On the international side, ICE sugar market futures continued to rise slightly on Wednesday. The 1103 phase of the sugar price rose 11 points (+0.3%) on the same day, closing at 33.13 cents / pound, and the price of sugar in the intraday plunged 2.9%.

Judging from the trend of the disk, Zheng sugar opened today under the influence of the rebound of the bottom of the market. After the opening price, the sugar price gradually increased, up to 7172, followed by a downward trend in the price of sugar, but it rose again at the end of the market.

After the sharp increase of more than 70 thousand hands yesterday, China continued to add more than 40 thousand hands in the morning, indicating that the market continued to be optimistic about the market outlook.

In the new squeeze season, supply and demand are still tight, and sugar remains cautious.

Operational bulls can continue to hold.

Oil {page_break}

Wednesday's CBOT soybean futures market closed slightly higher, supported by speculative buying triggered by worries about potential crops in Argentina.

In January, soybeans closed 1328.75 cents, up 2.5 cents; in March, soybeans opened 1337.5 cents, 1343 cents high, 1336.5 cents lower, closing 1339.75 cents, up 2.25 cents.

In January, soybean oil closed 55.97 cents / pound, up 0.41 cents; in January, soybean meal closed at $352.7 / short ton, up 0.1 dollars.

In January, the share of soybean oil contracts in squeezing arbitrage was 44.26%, and the profit of soybean disk crush in January was 62.75 cents.

Today, the oil market is strong. It will continue to increase its position. It will face a slight pressure in the short term or at high points. However, the current trend has not changed. We can continue to hold long positions in operation. In the short term, we should pay attention to the breakthroughs in the previous high points.

The trend of soybean and soybean meal is slightly weaker. As a whole, it continues to oscillate upward.