Zhengmian’s open contract occupies over 20,000 mark

Due to the impact of throwing storage and electronic cigarettes on the previous day, Zheng Cotton was immediately closed to a 4% daily limit within minutes of the opening of the trading day. The entire contract took up over 20,000 points, and no daily limit was opened thereafter.

The data released by the international market last weekend was flat. US stocks oscillated in a narrow range and the European banking system was worried about repressing European stock market sentiment. However, generally speaking, the international loose monetary policy is expected to continue, and the US dollar may continue to depreciate. The systemic driving factors of the commodity market are expected to be heavy. Now, for the agricultural product market, the poor weather from China, the largest demand country, will likely create unfavorable constraints on the expected autumn grain output. The largest exporters of US corn and soybean yields may not be expected in the late period, and the supply season is also the export season. The situation of higher prices, driven by speculative funds, is expected to be launched during the two double festivals in China. In terms of cotton, the poor weather in China and India itself, coupled with India’s cancellation of Pakistan’s cotton import orders on Thursday, triggered a renewed fear of market supply, and it is not a problem for ICE’s cotton market to break through the 100-cent mark.

As the outer market was higher and the domestic weather was unfavorable, the market’s bullish sentiment was expected to affect yesterday’s agricultural products and markets. Before mid-Autumn Festival, there was still one trading day. In addition to sugar, the other varieties included corn. Soybeans, soybean meal, soybean oil and other varieties continued to increase their positions, and the stocks rallied and soared. Among them, the soybean meal limit, corn innovation, and oils once again formed a technological breakthrough, and the overall market sentiment once again improved.

As far as the cotton market is concerned, if we expect to limit the daily limit to yesterday's daily limit, in fact, such a daily limit is only a return of the value of ** cotton to cash cotton and other markets, and it is not surprising that we look closely at the surrounding cotton market and dump the transaction price yesterday. Up to 20,750 yuan, 328 average price soared 927 yuan to 21,273 yuan, the highest price on the day to 22000 yuan to reach 2,1980 yuan, throwing storage progress has been completed 80%, following yesterday, yesterday, electronic rayon again expanded the board daily limit, have in succession 21,000 yuan up and down, the actual spot transaction, it is reported that some port actual spot sales price has exceeded 21,000 yuan, and the current domestic seed cotton acquisition, have approached 4.5 yuan / kg, the cost price also reached 19,500 above. It is necessary to pay attention to the fact that the current overseas cotton spot price quotation is about 19,700 yuan. As of last Friday, the ICE future cotton price has reached 36 compared with the domestic cotton price gap. The domestic soaring price rose by 800 yuan yesterday, and the spread was expanded to more than 40 again. The comparative evolution of the two markets in the latter period deserves attention.

So far, we have been starting from 16,000, and the current view is still “taking advantage of the situation”, especially in the face of the current high price of innovation every day, do not try to find the top, or to predict the absolute price, as in 2003/04 For copper, and for example, 2007/08 soybean oil, the market has ended. What we are still particularly reminding us is that, without a sign of falling, 20,000 would have decided to touch the ceiling, and even if it was 19500 short-selling during the downtrend, it appeared to be less profitable, but it reflected two completely different operating tactics. With the investment mentality, you need to be vigilant.