Huaan **: Zheng cotton over the pressure remains more than a single carefully held

Tips: 1, a Spanish region asked for financial aid on Friday, so that investors worry about the debt crisis in Europe, so that the entire commodity and financial markets under pressure.

2. The US Department of Agriculture’s July report predicts that the global cotton production in 2012/13 will be 24.78 million tons, the global consumption will be 23.673 million tons, and the global ending stock will be 15.762 million tons, a decrease of 460,000 tons from the previous month, which is an increase over 2011/12. 12.44 million tons, an increase of 8.5%.

External market trend: New York, July 20 news, Intercontinental Exchange (ICE) Cotton ** rose for a third consecutive trading day on Friday, boosted by the soaring cereal market, and the exchange of cotton stocks fell to a low point in February, so that investment People were once worried about the supply. Cotton prices have ignored the downturn in popularity of commodities and financial markets. The December contract settled 0.43% higher at 72.94 cents per pound, hitting an intraday high of 73.29 cents.

Early commentary: The rumors of throwing storage rumors were denied by the Sinopec stakeholders to boost market confidence. Along with the stabilization of the spot market and the gradual declining of market resources, the market's confidence in late-stage cotton prices will gradually increase toward the closing price. A firm one point, more than a single early to continue to hold; In addition, the current ** market Zheng cotton 1209 and blending market MA1209 spread reached 280 yuan / ton, due to the convenience of the price warehouse, buy ** reciprocating purely risk-free arbitrage, The short-term profits are considerable. The relevant companies can seize this opportunity. In operation, Zheng Cotton’s main 1301 contract continues to be held cautiously, with a stop loss near the 19300 line.