Colosseum a.s. (Colosseum a.s.)
Commodities  |  July 26, 2012 12:12:28

Surplus and weak demand pushes the price to the south balvny

ColosseumThe minimum monthly level almost weakened in yesterday's trading session on the exchange ICE Futures U.S. most active futures contract price for cotton. It was a response to speculation, according to which the demand for U.S. stocks of cotton in the near future remains lukewarm. Recent data from the U.S. Department of Agriculture (USDA) show that in the week ending July 12 fell on cotton export sales over the previous week by 27%. On the other hand, in its latest report, the USDA expects global growth in cotton production in surplus next year to a total of 72.39 million bales (218 kg = 1žok), from 66.88 million this year. Credit Suisse Group for the next 3 months also lowered its estimate of cotton prices from the previous 75 cents to 68 cents per pound weight. Cotton futures on the December delivery date weakened in yesterday's trading session on the exchange ICE Futures 2.1% to the closing price of 69.51 cents per pound weight. Since the beginning of this year dropped the price of that commodity has about 24%.

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