Speculative Buying Will Affect &Nbsp; Period Cotton Will Be Renewed Again.
Wednesday (3.02) New York ICE Intercontinental Exchange cotton futures again closed, the main factor is speculative buying continues to boost the market.
March contract closed at 204.45 cents, up 8.58 cents; in May, the contract opened sharply at 199.40 cents, the highest point in the session was 200.60 cents, the lowest point was 193.30 cents, finally closed at 200.60 cents, up 7 cents, 12219 hands in turnover, 72047 hands in empty volume, and 12219 cents in July.
Turnover declined, and market sentiment was slack.
As volume decreases, therefore,
market
Price trends can easily be amplified.
At present, the focus of the market is the weekly report on cotton export sales released by the US Department of agriculture on Thursday and the monthly cotton supply and demand report next week. At the same time, the USDA cotton planting prediction released in March 31st will also have a greater impact on the market.
On Wednesday, US stocks rose slightly. The employment market report of ADP, a private employment service, was better than expected. The market believed that the US economy could cope with the risk of rising oil prices.
contract
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