Cotco would like to send break news following the March WASDE for cotton market:
ICE Cotton ended yesterday’s session on 08th March in a state of inconsistency.
Initially, trading fell when pressured by the strengthening of the US dollar and the US Department of Agriculture’s (USDA) monthly cotton report on World Supply – Demand was said to be negative data, as well as the pessimistic mood about interest rates could rise more than expected from the Fed, while the half is optimistic about prospect of increased demand from China.
In Brazilian cotton region, there is potential for a bumper mission this season, and demand has also strengthened recently.
Investors are awaiting weekly export sales data from USDA to be released today to gauge the purchasing of China and countries participating for the week.
The March WASDE statement is briefed as follow:
Thank you readers for your interest and follow the information
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