COTTONGURU™ Daily Report

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  1. Arrivals on 22/03/17 is about 1.35 lakh bales.
  2. Market:  Bearish
  3. ICE cotton futures hit a more than two-week low on Tuesday, weighed down by weakness in the grains market.
  4. Cotton prices continued in a downward trend. Traders suspect the fall is a result of macroeconomic factors, lower Chinese futures and short term technical weakness weighing on the market. Shippers reported an increase export activity in China, India, Turkey and Far Eastern markets for nearby and summer shipments.
  5. In the US, traders have pushed their US new crop acreage higher. One report suggest cotton continues to be the best alternative for many growers in the US.

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