Cotton

Re: Cotton

Postby winston » Fri Sep 12, 2014 7:50 am

Cotton prices fall as Chinese buyers cancel orders

By Chris Prentice

NEW YORK, Sept 11 (Reuters) - Chinese cotton buyers canceled orders for over 105,000 bales last week, U.S. government data showed on Thursday, stoking worries over contract defaults that have plagued the market in recent years and sending prices down more than 1 percent.

The drop in sales to China was the biggest since June 2012, the last time the fiber market saw a price rout of the magnitude witnessed over the last several months.

The December cotton contract on ICE Futures U.S. , the benchmark for the 2014/15 cotton crop, fell as much as 1.2 percent following the report and was down 0.58 cent, or 0.9 percent, at 66.56 cents a lb by 10:57 a.m. EDT (1457 GMT).

Prices for December, representing the 2014/15 crop, have plunged 20 percent since May highs, as concerns about supply tightness evaporated amid expectations of a bumper U.S. crop and waning Chinese demand due to a government policy overhaul.

In the week ended Sept. 4, millers and merchants in China canceled 105,400 bales of upland cotton and switched 6,400 bales to other destinations, offsetting meager new commitments of 5,900 bales, according to weekly U.S. Department of Agriculture (USDA) data.

Buyers in Taiwan also canceled 1,800 bales. The reductions from two key buyers of U.S. cotton contributed to a sales report that showed more sales canceled than booked for the first time in months. [ID:nL2N0N2145] "There's no way to say what caused the cancellations, but certainly there were a lot of higher-prices sales," said Andy Ryan, a senior risk management consultant with INTL FCStone in Nashville.

Traders cautioned that the cancellations were not necessarily a sign of weak overall demand, and said merchants could be sourcing from other origins ahead of the main U.S.

harvest in the coming months.

The cotton industry is still reeling from waves of contract defaults due to wild price gyrations in 2011 that left major merchants, including Glencore Plc and Noble Group Ltd , nursing hundreds of millions of dollars of losses.

Farmers defaulted on traders when prices soared to historic highs and mills reneged after they had tumbled in kind.

"This is disappointing to anyone trying to find a bottom," Ryan said, describing demand as "tepid."

Source: Reuters
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Re: Cotton

Postby behappyalways » Tue Dec 09, 2014 10:43 am

[经济信息联播]棉花市场调查 棉价跳水 内地棉农惜售
http://jingji.cntv.cn/2014/12/08/VIDE14 ... 1110.shtml
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Re: Cotton

Postby behappyalways » Mon Apr 20, 2015 3:13 pm

Why India's cotton farmers are killing themselves
http://edition.cnn.com/2015/04/19/asia/ ... index.html
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Re: Cotton

Postby behappyalways » Mon Dec 14, 2015 11:43 am

Cotton Is Piling Up at Warehouses Around the World
http://www.bloomberg.com/news/articles/ ... -can-t-win
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Commodities - General News 03 (Jul 14 - Dec 16)

Postby behappyalways » Thu Apr 28, 2016 5:47 am

china-trades-enough-cotton-in-one-day-to-make-jeans-for-everyone
http://www.bloomberg.com/news/articles/ ... r-everyone
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Re: Cotton

Postby winston » Fri Jul 01, 2016 9:26 pm

Cotton prices climb 15%-plus in the past four months.
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Re: Cotton

Postby winston » Thu Jul 14, 2016 10:39 pm

This commodity is surging and nobody is paying attention: Gartman

by Brian Price

If you missed the boat on the recent gold and silver rally, fear not. Dennis Gartman says there's a different commodity that could give your portfolio a major boost in the coming weeks.

"Take a look at what's happening to cotton," the editor and publisher of "The Gartman Letter" said on Tuesday on CNBC's " Futures Now ." "It's a market that nobody has been paying attention to and has been totally left off of everybody's radar."

Cotton futures are up nearly 19 percent in the last three months and are trading at levels not seen since June 2014. Those gains over the last few months are double what we have seen in gold and oil, which are both up roughly 7 percent in the same period. Year to date, cotton is up nearly 12 percent.

Gartman, whose first job out of graduate school was serving as an economist for Cotton Inc., says that the commodity has wrongfully received a somnolent reception in today's market.

He added that in the past two weeks, the planted acreage for cotton was 10 million acres, which is far above the usual amount. From here, Gartman believes that news should have set up for a "very bearish report, and yet the market took that very well," as the data has been largely discounted by the market.

"Something is developing technically in the cotton market. Cotton is trading within a very small range between 68 cents and a low of 60 cents," explained Gartman. "Suddenly, cotton is breaking out to the upside. The term structures are starting to move and the contangos are beginning to narrow. Markets that don't go down on bearish news aren't going down anymore."

To Gartman's point, cotton has made a significant week-to-date surge of 7 percent, on pace for its best weekly performance since 2012.

"Any time you have a chance to buy any weakness in the next two or three days, take a look at it," Gartman urged. "Be a buyer on any one- or two-cent declines."

Source: CNBC
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Re: Cotton

Postby winston » Sat Jul 16, 2016 6:17 pm

Guess which commodity booked the biggest gain this week

This year will mark the second-straight year that demand for cotton exceeds production, said Ned Schmidt, editor of the Agri-Food Value View report.

Globally, farmers have cut back on production because prices were low and they looked to produce crops that would bring in better profits


Among the reasons for cotton’s rise in such a short term, is the “damaged” quality and size of the U.S. cotton crop due to weather concerns, said Gartman.


The U.S. Department of Agriculture said world production for the 2016/2017 cotton-crop year is seen lower because of a cutback in output in India and Pakistan.

At the same time, consumption is forecast higher because of a large increase in China “being only partially offset by declines in India and Pakistan.”


Sales from China’s State Reserve have remained “very strong, despite rising prices,” with all of the cotton offered since June 28 sold.


Source: Market Watch

http://www.marketwatch.com/story/guess- ... yptr=yahoo
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Re: Cotton

Postby behappyalways » Mon May 29, 2017 10:47 am

The World Is About to be Flooded With Cotton

By Marvin G Perez

May 29, 2017

Stockpiles outside of China expected to reach record high
Planting picks up in U.S., where crop may be largest in decade

The world is about to be inundated with cotton as farmers take advantage of high prices to produce more and China floods the market with excess supply from its strategic inventory.

Global output will climb 6.9 percent in the season that starts Aug. 1, helping push stockpiles outside of China to a record.


American farmers, the biggest exporters, are forecast to have their biggest harvest in a decade, and crop increases are expected in Australia and top grower India.


Source: Bloomberg

https://www.bloomberg.com/news/articles ... dia-to-u-s
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Re: Cotton

Postby winston » Thu Sep 07, 2017 8:20 pm

Hurricane IRMA

To the north, cotton farmers in North and South Carolina fretted their fields might be facing a fate similar to their Texas counterparts.

Late last month, Hurricane Harvey, which became a tropical storm after making landfall in Texas, destroyed an estimated $150 million worth of cotton, ripping the bolls off plants and leaving white fiber strewn across fields.


The biggest risk the North Carolina cotton crops faces is wind, which would blow cotton plants over.

Heavy rain too could push the cotton bolls to the wet ground and cause rot.


North and South Carolina represent about five percent of cotton acres planted this year.


Source: CNBC

https://www.cnbc.com/2017/09/07/from-su ... -irma.html
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