December 17 cotton morning comments
Cotton (11,385, -40.00, -0.35%, right) (basic): The Bureau of Statistics data showed that domestic cotton production in November fell 1.29 percent, the Central than the 4.7 percent decline; Customs data show China’s monthly exports in November to lower year-on-year 2.2 % 114,987,000,000 U.S. dollars, while imports 74,897,000,000 U.S. dollars, up 17.9 percent lower, at home and abroad led to the decline in domestic demand for both imports and exports decline, November’s trade surplus 40,090,000,000 U.S. dollars, a record high, indicating domestic demand and economic growth; Shouchu support the current steady spot, near the end of the year and part of the purchase prices spinning signs of increased cash transactions has increased, the overall demand situation has not improved. (Technical): as a result of weak demand and the spot price support, NYBOT cotton to maintain the fluctuation range. Zheng yesterday cotton continue the trend of shock, the period of steady price in the vicinity of 11,400 is expected today, the market will continue between the main shock, short-term direction on the side.