Zheng Cotton Trend Is The Most Powerful, Strong Trading Late
Yesterday, the domestic commodity market rose across the board. Among them, Zheng cotton The strongest trend is strong trading. At the same time, PTA, rubber, sugar, plastics, Shanghai copper and other varieties rose by more than 2%.
Zheng cotton 1109 contract opened at 31155 o'clock, closed at 32435 points, or 7.01%.
The sugar 1109 contract opened at 7230 in early trading and ended at 7279 points, or 2.03%.
Operation suggestion
Zheng Xinran, an analyst at Guan Tong futures, said yesterday that China's cotton production fell 6.3% to 5 million 970 thousand tons last year, according to the National Bureau of Statistics yesterday.
The US Department of agriculture (USDA) last week said five, 2011/2012
cotton
Usage and export will be reduced, though the expected output is 19 million 500 thousand packs.
Cotton fell through the previous period, and yesterday it relied on 30000 support to rebound.
Zheng Xinran analysis, comprehensive news face, cotton tight situation may continue for a period of time, technical indicators have been good, but yesterday's volume did not match the price rise, so the future market should not be too optimistic.
Refer to the 20 and 30 day line pressure, and test the take-off point below 30665.
The proposal is still dominated by short-term operation, and the price can effectively break through the pressure level or support position.
White sugar, Galaxy futures researcher Jin Qinghui introduced by Russia decided to substantially reduce the import tariffs on raw sugar, last Friday
ICE
Futures prices of raw sugar jumped more than 3%.
Affected by the rise of the external market, Zheng sugar 1109 contract opened high yesterday, all the way up, hitting 7300 of the high point.
After a long decline, the disk has strong technical rebound requirements, and the rise of the external market provides conditions for the rebound.
Such a rebound is still in the peak production and sales slack season, in the sensitive period of price problem. Therefore, with the further digestion of Russia's news of reducing the import tariff of raw sugar, the strength of the external market rebound needs to be observed.
Yesterday, the national reserve auction price increased the popularity of Zheng sugar, supported by this, Zheng sugar short line or will be dominated by strong shocks.
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