0112 cotton Morning Comments
Cotton (11890, -30.00, -0.25%,) (basic): The cotton price fell, the economic recession resulted in a drop in demand and grain prices, U.S. cotton acreage 09 years will drop 12.89% -16% to 790.7 – 8.2 million acres, it will be a minimum area of 140 years, and after domestic cultivation of intention survey also revealed that the new year by low-cost and so on, China’s planting area will be reduced by 10% -30%; short-term support domestic prices steady, demand sluggish uplink to suppress the market space, the late disadvantaged will continue. (Technical): by the profit-taking pressure plate, NYBOT Cotton down Friday. Continuation of last week, Mr Cotton finishing sideways trend, once the price broke through the 12,000 barrier integer, but the action can be less than the price remained at 12,000 under the shock, the current situation is still continuation of a rebound, but the limited space available in the near future in the vicinity of 12,000 short time to take part. (Operation recommendations): days of short-term oriented.