Tag: cotton

Cotton Closes Above $2 per Pound as Market Remains in Chaos

Filed in commodities, New Gold, o, South African Gold, Spot Gold by on February 18, 2011 0 Comments
Cotton Closes Above $2 per Pound as Market Remains in Chaos

Filed under: Major Movement , Industry , Market Matters , Commodities , Agriculture The cotton market is in a state of chaos. On Friday, March cotton on the ICE exchange closed at $2.1102 per pound, up the 7 cent daily limit, the Financial Times reported. The market opened limit up at $2.1102. That means that you cannot buy cotton even if you wanted to. The market is frozen. Commodities are much different from stocks. Commodities are a zero sum game. Contracts usually last for three months. At the end of the three months, the longs take delivery from the shorts who deliver their cotton, and zero contracts are left. Continue reading Cotton Closes Above $2 per Pound as Market Remains in Chaos Cotton Closes Above $2 per Pound as Market Remains in Chaos originally appeared on BloggingStocks on Fri, 18 Feb 2011 10:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

Continue Reading »

Cotton Market Bulls Making Another Charge

Filed in Bank Gold, Gold, Gold Investing, o by on January 8, 2011 0 Comments
Cotton Market Bulls Making Another Charge

ICE Futures U.S. cotton for March delivery on Tuesday gapped higher on the daily bar chart and hit a fresh four-week high of $1.4597 a pound as of this writing. The bulls are making a strong run at the all-time record high of $1.5195, scored on November 10. March cotton futures prices are in a strong three-week-old uptrend on the daily bar chart, making a solid recovery from the low of $1.1113 scored on November 24. An examination of major bull runs in commodity futures markets shows that many times after a market has made a major high, prices will then back off sharply only to see prices make a surprising and strong comeback to challenge the major high that was recently achieved. However, more times than not the previous high is not surpassed, and if it is surpassed, it’s not by much. The price action described just above is what many times forms bearish double-top reversal patterns on the charts. However, make no mistake: the cotton market bulls do at present have strong upside near-term technical momentum and would be top-pickers need to think long and hard about stepping in front of a steaming locomotive. Stay tuned!–Jim Wyckoff

Continue Reading »

Shortage of Cotton in China Drives Prices to Near Record High

Filed in commodities, inflation, New Gold by on October 15, 2010 0 Comments
Shortage of Cotton in China Drives Prices to Near Record High

Filed under: China , Options , Economic Data , Commodities China is the world’s biggest importer of cotton. Last week, the U.S. department of Agriculture identified a “severe shortage” of Cotton in China. That was the trigger for a buying spree in cotton like no other, the Financial Times reported . “We’re just seeing blow-offs here that nobody can imagine,” Herman Kohlmeyer, with brokers Michael J Nugent told the paper. The buying frenzy started on China’s Zhengzhou Commodity Exchange where prices shot up to $1.60 per pound. That move set off the rally in New York’s ICE Exchange electronic trading, the FT reported. Prices shot up the 4 cent limit to $1.1487, just shy of the record of $1.1720 per pound set in 1995. Continue reading Shortage of Cotton in China Drives Prices to Near Record High Shortage of Cotton in China Drives Prices to Near Record High originally appeared on BloggingStocks on Fri, 15 Oct 2010 10:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

Continue Reading »

Cotton in Short Supply Drives Prices Higher

Filed in commodities, South African Gold, Spot Gold by on August 3, 2010 0 Comments
Cotton in Short Supply Drives Prices Higher

Filed under: International Markets , Commodities , Agriculture Where is the cotton? Cotton inventories monitored by ICE Futures U.S. have plummeted 96%. This is noteworthy because the U.S. is the world’s largest cotton exporter. Textile buyers are not waiting for the next crop. They are buying now. This has caused a sharp rally in the cotton market. Nearby October ICE cotton futures spiked to 82.36 cents per pound, up 1.68 cents. Since January 2009, cotton has risen from 50 cents per pound to a high of 84.94 cents in 2010 (each 1 cent equals $500). The U.S. Department of Agriculture (USDA) reported that farmers will harvest 18.3 million bales in the 2010-2011 marketing year, up from a two-decade low of 12.2 million a year earlier. Global production will rise 13% to 116 million bales, according to the USDA. Continue reading Cotton in Short Supply Drives Prices Higher Cotton in Short Supply Drives Prices Higher originally appeared on BloggingStocks on Tue, 03 Aug 2010 09:00:00 EST. Please see our terms for use of feeds . Read | Read | Permalink | Email this | Comments

Continue Reading »

Raising The BAR: Bar Patterns & Trading Opportunities

Filed in Gold Investing, Gold Prices by on April 17, 2010 0 Comments

How a 3-in-1 formation in cotton “triggered” the January selloff April 16, 2010 By Nico Isaac For Elliott Wave International’s chief commodity analyst Jeffrey Kennedy, the single most important thing for a trader to have

Continue Reading »

Mississippi Beats No. 19 Oklahoma State; Texas Tech Wins

Filed in Gold Investing by on January 3, 2010 0 Comments

Dexter McCluster ran for 185 yardsand two touchdowns as the University of Mississippi beat 19th-ranked Oklahoma State University 21-7 in the Cotton Bowl. McCluster ran for 86 yards for a touchdown in the secondquarter and two yards in the fourth to Mississippi Beats No. 19 Oklahoma State; Texas Tech Wins

Continue Reading »