Cotton recaptured its lost ground responding favorably to the superior export numbers. However, even with the best export numbers seen in a while; this market still doesn’t have the proper demand to send March all that much higher. That doesn’t mean that other months especially beginning with July cannot go to the moon. Hey today Red July and Red Dec quotes were obtained in options. By then cotton should be over a dollar. I mean who wants to plant cotton when other crops are less costly and more profitable?
BTW the largest portion of sales was to Mexico and my sources suggest that is an aberration and not something we’ll see again. Bottom line is that we’re still not going to make export projections.
I see a trading range affair until the top gets taken out again. Regardless, of fundamentals cotton prices still look good technically. Besides it is the flow of spec money that’s pushing this market rather than the traditional demand.
I still like buying almost any month against March. And although March may head to 7400, I look for a trading range between 7000 maybe even 6900 and 7300 for a while.
It will pay to keep an eye on what’s happening in other markets.
Si quiere más información, por favor contáctenos,
Maria Aranda
El equipo de Brokers de Futuros USA
Email: [email protected]
TEL: 312-261-7395
Fuente: MF Global
©2007 Jurgens Bauer & Associates all rights reserved.
Jurgens Bauer
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La operación de futuros y opciones involucra riesgos de pérdida sustanciales, por lo que no es conveniente para todos los inversionistas. La información y opiniones contenidas en esta publicación, no constituyen, ni deben ser interpretadas para constituir una oferta de venta o la solicitud de compra de algún producto. La información objetiva incluida en este reporte ha sido obtenida de fuentes consideradas como confiables, aunque no esta garantizada en cuanto a su exactitud, ni tampoco en lo que respecta a su completo significado. No se asume responsabilidad con relación a ninguna declaración, así como en lo concerniente a cualquier opinión expresada aquí incluida. La confiabilidad relativa a la información en este reporte es solamente bajo riesgo del lector. Todos los comentarios están basados en opinions.
