The Trend Of Zheng Cotton Will Be A Seesaw Battle. The Warehouse Receipt Is A Double-Edged Sword.

Yesterday's plate was still soaring, and the night plate began to move rapidly, setting off a big Yin line.

When you come to me, the competition is still very intense. The CF1909 contract has increased more than 300 points by adding 150 thousand hands, indicating that the upper cover is also covetous, destined to be a seesaw battle in time for space.

Now the market has many concerns, such as reserve cotton, Sino US trade negotiations, downstream textile production, ICE, cotton actual sown area, weather changes, production and marketing situation, registered warehouse receipts and so on are closely related to the trend of Zheng cotton, but warehouse receipts played a leading role in this round of market quotation.

Many people are asking how capital and warehouse receipts can bridge the gap between them.

Despite the substantial increase in volume, the disk changes are relatively mild, indicating that the hedge market is also pouring in while the capital is being replenishment.

As of April 15th, Zheng cotton registered 17387 warehouse receipts, 4939 forecasts, warehouse receipts and forecast total of 22326, equivalent to more than 890 thousand tons of lint, the number of 1 million tons is not far away, I believe that with the price continues to rise in the late, there will be a large number of Southern Xinjiang cotton insurance policy.

I recall that professionals at the beginning of the year said that warehouse receipts were a double-edged sword, which would help cotton prices rise to a certain extent while restricting the rise of the disk. Just as the bright sunshine also had its shadow.

There is no shortage of cotton in China. According to statistics from relevant agencies, the national cotton business inventory is about 3 million 826 thousand tons at the end of March.

The national cotton market monitoring system data show that as early as the beginning of April, the average inventory usage days of the enterprises surveyed were about 35.3 days (including the quantity of cotton imported to Hong Kong), and the national cotton industry inventory was estimated to be about 778 thousand tons, and the total inventory amounts to 4 million 604 thousand tons.

Of course, it does not include the latest 800 thousand tonnes of quasi tax quotas.

It is nearly 7 months since October when textile enterprises used new cotton. According to the consumption of 700 thousand tons per month, it needs 4 million 900 thousand tons by the end of October.

Overall, cotton supply and demand is not a problem.

From another perspective, if a considerable portion of the cotton business inventory exists in the form of warehouse receipts, once the disk has been substantially increased, although it will not be able to pull up the package, the resource lock will inevitably cause the market circulation resources to decrease and the spot market will also rise. Especially in this atmosphere, the textile industry and downstream industry chain will be changed to increase the stock status again, and the resources will become more and more intense.

Of course, the above is just a guess of the author. How to develop the specific disk needs to be answered by the market.

At least for now, the disk does not have the above conditions, and it takes time to change the space to completely reverse the situation.