By admin       2018-06-21

Trades in Green in Early Dealings:Rallies in world stock markets offered support. Cash grower sales declined to 360 bales on The Seam, bringing an average of 49.60 cents per pound.Cotton futures traded in the green in early dealings Wednesday, supported partly perhaps by rallies in world stock markets on signs that the global economy was on track despite trade tensions.December ticked up 69 points to 84.51 cents, trading within a 271-point range from 82.94 cents — where it opened overnight — to 85.65 cents on a contract volume of 11,024 lots. July also rose 69 points to 84.01 cents, trading within a 260-point range from 83.10 to 85.70 cents on a turnover of 2,437 lots.In ICE cotton futures Tuesday, December ignored a sharp deterioration in U.S. crop conditions to settle almost limit down amid widespread selling in world financial markets as the U.S.-China trade dispute continued to escalate. December has lost 9.8% in the last three sessions.The July-December straddle traded between 90 points July/over to 85 points December/over and widened five points to settle at a 50-point December premium on a volume of 4,149 lots. December-March traded between even money and a 13-point December premium and widened two points to close at nine points December/over on 5,217 lots.In cash online trading, grower-to-business sales declined to 360 bales on The Seam. Prices averaged 49.60 cents per pound. Staples 35 or more totaled 282 bales or 78%. All the sales were from the Southwest. Offerings were 26,869 bales.The 2017-18 Cotlook A Index of world values fell 190 points to 96.95 cents and the Forward A lost 200 points to 99.15 cents, widening the premiums over the prior-day July and December futures settlements 150 points to 9.63 cents and eight points to 9.63 and 11.38 cents, respectively.In outside markets, world stocks rallied after recent sharp falls amid expectations that stimulus by Beijing could temper some of the impact from an escalating U.S.-China trade conflict. Dow Jones Industrial Average futures traded up 107 points and S&P futures up 7.25 points after a few punishing sessions for Wall Street. The September U.S. dollar eased 0.030 to 94.700.August West Texas Intermediate crude oil gained 63 cents to $65.53 and August Brent crude added 26 cents to $75.34. August gold dipped $2.40 to $1,276.20. July corn was up 0.42%, July soybeans up 0.22% and July Kansas City wheat up 1.55%.Asian stocks rebounded, closing up 1.24% in Japan’s Nikkei 225, 0.77% in Hong Kong’s Hang Seng, 1.02% in South Korea’s Kospi and 0.31% in China’s Shanghai Composite. India’s Sensex gained 0.74%. European shares traded higher, up 0.84% in Britain’s FTSE 100, 0.21% in Germany’s DAX and 0.26% in France’s CAC 40.China’s Zhengzhou cotton futures ended with large losses and prices finished with triple-digit losses on the China National Cotton Exchange.

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