Zhengzhou cotton futures lower

Today, all contracts on the Zhengzhou cotton futures (ZCE) market ended with modest to sizable losses, of between 55 and 355 yuan per tonne. The January 2017 contract has again fallen below 10,000 yuan, to 9,920. The May/September spread widened by 60 to 550 yuan, while the discount from September to January is now 190 yuan.

Turnover increased by 18,112 contracts, to 451,372. Open interest rose by 12,656 to 986,524. At the close of business, the top 20 brokers were holding 296,123 long positions (2,976) and 373,182 short positions (1,468).

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Posted in: Cotlook Headlines