Error in deserializing body of reply message for operation 'Translate'. The maximum string content length quota (8192) has been exceeded while reading XML data. This quota may be increased by changing the MaxStringContentLength property on the XmlDictionaryReaderQuotas object used when creating the XML reader. Line 1, position 9097.
General Comments: Futures closed mixed yesterday in consolidation trading. Futures had moved much lower in the week on the Euro crisis fears, but this week the tone is a little different as bad weather in the US has become more important again. No rain has been reported in Texas or Georgia growing areas, and little is in the forecast for this week. Ideas are that few deliveries can be made as the supplies are not available. Wire reports that Texas dryland farmers are on the verge of declaring crops as disasters added some support. Western Texas, where almost half of all US Cotton is grown, has been very dry, and there are no forecasts for much relief, if any, into next week. Eastern areas have had some precipitation in the last week or so, but it remains too dry in many growing areas of the Southeast, especially in Georgia. Delta areas are warm and dry, although a few showers are possible during the second half of the week. Demand remains poor.Overnight News: The Delta and Southeast will get showers and storms today and tomorrow, then will see lighter precipitation through the weekend. Temperatures will average near to above normal. Texas will be mostly dry, but a few showers are possible over the second half of the week. Temperatures will average above to much above normal. The USDA average spot price is now 135.99 ct/lb. ICE said that certified Cotton stocks are now 0.065 million bales, from 0.063 million yesterday. China imported 144,559 tons pf Cotton in May, down 27% from last year. Calendar year to date imports are now 1.2 million tons, down 11.7% from last year. Chart Trends: Trends in Cotton are mixed. Support is at 146.00, 143.00, and 142.00 May, with resistance of 150.00, 155.00, and 157.00 May.06/20 15:00 CDT U.S. weekly crop progress highlights - USDA WASHINGTON, June 20 (Reuters) - Highlights of the U.S. AgricultureDepartment's weekly crop progress report (all numbers expressed in percent): Week ended 06/19/11 06/12/11 06/19/10 5-year COTTON CONDITION - Excellent 2 3 13 N/A - Good 24 25 49 N/A - Fair 35 38 33 N/A - Poor 17 17 4 N/A - Very Poor 22 17 1 N/A COTTON SQUARING 21 12 26 2506/20 04:53p CST DJ ICE Cotton Speculation And Hedging Report - Jun 20 For Jun 17 long and short positions in contracts.SPECULATION LONG ACCTS PCT SHORT ACCTS PCT Total 52,882 1,247 35.1 39,651 1,010 26.3HEDGING Total 97,643 279 64.9 110,874 244 73.7 GRAND TOTAL: 150,525 1,526 100.0 150,525 1,254 100.0General Comments: Futures closed higher yesterday on what appeared to be speculative buying. The buying pushed futures back to the top end of the recent trading range. There is not a lot of news to support any big rallies in OJ right now. No tropical storms are in the forecast. Florida remains mostly warm and dry, with no forecasts for significant rains in sight. Drought still affects a large portion of the citrus producing area, but crops are called in mostly good condition at this time due to irrigation. Fruit is developing and small fruit is visible on the trees. The fruit is called in good condition due to irrigation. Seasonal forecasts call for a more active than normal Atlantic hurricane season. Charts show that the market is trying to decide on the next move.Overnight News: Florida weather forecasts call for mostly dry conditions, but afternoon showers are possible this weekend. Temperatures will average near to above normal. Chart Trends: Trends in FCOJ are mixed. Support is at 181.00, 181.00, and 179.00 July, with resistance at 188.00, 191.00, and 194.00 July.General Comments: Futures were lower in all markets, with increasing offers from Asia and Brazil hurting any rally potential. The selling was also due to the world economic problems, especially those in Europe. Producers are still not selling much, but there seems to be an uptick in offers now as some producers feel they have missed the market. Roasters are said to be well covered for now. Fundamentals continue to suggest strong prices overall for the longer term. Lower Mitaca crop production in Colombia and the potential for a freeze in Brazil is offering reasons for speculators to buy. Traders generally expect tight supplies to continue through the next crop year due to lower production in Brazil and for high prices to continue as well. But, the ICO showed that supplies might not be as tight as expected in the coming year. Chart show that trends are down as futures absorb the increased offers from Asia and Brazil.Overnight News: Certified stocks are lower today and are about 1.657 million bags. The ICO composite price is now 205.35 ct/lb. Brazil should see scattered showers this week and dry weather this weekend. Temperatures will average near to below normal. Chart Trends: Trends in New York are down with objectives of 241.00 July. Support is at 241.00, 236.00, and 234.00 July, and resistance is at 250.00, 256.00, and 257.00 July. Trends in London are down with objectives of 2220 and 2200 July. Support is at 2225, 2170, and 2110 July, and resistance is at 2280, 2300, and 2410 July. Trends in Sao Paulo are down with objectives of 270.00 September. Support is at 321.00, 317.00, and 309.00 September, and resistance is at 326.00, 327.00, and 337.00 September.
General Comments: Futures closed higher in New York and in London. Ideas of slow processing and shipping delays in Brazil had supported prices. Yields were down sharply from last year, so total Sugar production might not be all that strong. Some buying was noted on ideas that the weather in Brazil is not getting better. Demand has been increasing as many Middle Eastern countries get ready for Ramadan. Bears keep pointing to increased supplies around the world and no demand this year from India as reasons to see futures move lower over time. The harvest conditions seem good at this time in Brazil and also in Thailand, and production ideas in both countries are big. However, both countries are said to be behind in shipping Sugar to overseas buyers. Trends remain up, but it is possible that this part of the up move is running out of steam.
Overnight News: Mostly dry conditions are expected in Brazil this weekend, but showers are likely the rest of the week. Temperatures should be near to above normal. China imported 172,842 tons of Sugar in May, up 48% from last year. Calendar year to date imports are now 409,673 tons, up 84% from last year. ABARE in Australia said that Sugar production there will be 3.85 million tons, unchanged from its previous estimate.
Chart Trends: Trends in New York are up with objectives of 2710 October. Support is at 2580, 2490, and 2460 October, and resistance is at 2670, 2735, and 2800 October. Trends in London are up with objectives of 687.00 and 708.00 October. Support is at 656.00, 643.00, and 636.00 October, and resistance is at 678.00, 697.00, and 712.00 October.
General Comments: Futures were higher in New York and in London again yesterday on increasing concerns about crop quality in Western Africa. In addition, recent wire service reports have noted that many Ivory Coast farmers refuse to return home, so supplies from there might be smaller than originally thought at the beginning of the market year due to labor problems. Ideas are that the market might have made a temporary low, but for now there is no real reason to buy. Fundamentals have not really changed. Ivory Coast and western African selling pressure remains a feature of the market. Overall ideas are that production there and in the rest of West Africa are improved this year due to the good rains and generally favorable weather patterns. The mid crop is supposed to be big this year in all countries in West Africa and will probably get exported quickly now. Trends are mixed. Overnight News: Scattered showers and storms are expected in West Africa. Temperatures will average above normal. ICE stocks are lower today and are now about 3.445 million bags. ICE said that deliveries today are 6 contracts and now total 46 contracts for the month. Chart Trends: Trends in New York are mixed. Support is at 2880, 2870, and 2805 September, with resistance at 2920, 2970, and 3020 September. Trends in London are mixed to down with objectives of 1800 and 1760 September. Support is at 1790, 1760, and 1730 September, with resistance at 1830, 1860, and 1870 September.View the original article here
Nenhum comentário:
Postar um comentário