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 中粮期货为何疯狂做多棉花 |
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中粮期货为何疯狂做多棉花 -- MVSspm - (74 Byte) 2010-9-26 周日, 15:27 (1901 reads) |
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作者：port 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
Cotton Rises Most in Six Weeks on Supply Concerns; Orange Juice Advances
By Leslie Patton - Sep 25, 2010 5:45 AM ET
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Cotton futures rose the most in six weeks on renewed signs that global demand will outpace limited supplies. Orange juice gained.
The ratio of cotton to stockpiles will drop to 38 percent in the coming season, the lowest in 15 years, compared with 40 percent a year earlier, Macquarie Group Ltd. said today in a report. Global production will increase to 116.97 million bales, falling short of demand of 119.16 million bales, the bank said. A bale weighs 480 pounds, or 218 kilograms.
“It’s been a question of very tight supply and very high demand at this time,” said Tom Reardon, the president of Delta Brokerage in New York. Cotton may rise above $1 a pound again, he said.
Cotton for December delivery rose 2.76 cents, or 2.8 percent, to settle at 99.93 cents at 2:37 p.m. on ICE Futures U.S. in New York, the biggest gain since Aug. 12. On Sept. 22, the fiber reached $1.0334, a 15-year high. The commodity has jumped 54 percent in the past year.
Yesterday, inventories in warehouses monitored by ICE rose 1.2 percent, the first increase since June 10. They have tumbled 96 percent this year. The U.S. is the biggest exporter, and China is the top grower.
India, the world’s second-biggest cotton grower and shipper, may limit exports to 5.5 million bales in the year beginning Oct. 1 in a bid to meet domestic demand, Commerce Secretary Rahul Khullar said this month. Global inventories will drop 3.3 percent to 45.4 million bales in the year ending July 31, U.S. Department of Agriculture data show.
Dollar’s Slump
Futures also climbed as the dollar’s slump bolstered the appeal of U.S. exports.
Cotton is “also getting some help from the outside markets,” said Sharon Johnson, a senior analyst at First Capitol Group LLC in Atlanta. “Folks see the dollar down and think, gosh, that makes cotton cheaper.”
The greenback dropped to the lowest level since February against a basket of major currencies.
Orange-juice futures for November delivery rose 1.1 cents, or 0.7 percent, to settle at $1.582 a pound on ICE. The price has gained 23 percent this year.
A tropical weather system may form in the western Caribbean next week, boosting the risk of damage to citrus groves in Florida, the world’s second-largest orange grower, according to a forecaster at MDA EarthSat Weather Inc.
To contact the reporter on this story: Leslie Patton in Chicago at [email protected].
To contact the editor responsible for this story: Steve Stroth at [email protected].
作者：port 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 中粮期货为何疯狂做多棉花 -- MVSspm - (74 Byte) 2010-9-26 周日, 15:27 (1901 reads) - On Sept. 22, the fiber reached $1.0334, a 15-year high.India -- port - (2883 Byte) 2010-9-26 周日, 17:09 (323 reads)
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