Phase Cotton Fell Slightly &Nbsp; ECB Did Not Intend To Adopt Quantitative Easing Plan.

ICE cotton fell slightly on the 8 day, because the ECB did not intend to adopt quantitative easing plan, triggering a slight selling of investors.

Media reported on December 8th, intercontinental

Weak financial markets led to pressure on cotton. After the European Central Bank (ECB) lowered its benchmark interest rate, President Delagi (Mario Draghi) dispelled the massive stimulus measures taken by the central bank.

ICE

Cotton fell 0.26 cents in March to 92.05 cents / pound, with a trading range of 91.66 cents / pound to 92.99 cents / pound.

The 7 day trading range is 91.75 cents / pound to 93.80 cents / pound.

According to ICE Futures data, the turnover volume of 8 days is about 6600 hands, which is lower than the 30 day mean value by more than 2/3.

"We are waiting for the European Conference," said Brown Keith Brown, President of Keith Brown.

This is a big thing. "

The debt crisis has plagued the financial market for weeks, and the possibility of recession is increasing. Most countries around the world may be hit.

In addition, market participants are waiting for the USDA monthly supply and demand report.

It is estimated that USDA will reduce the output of US cotton (20545, -65.00, -0.32%) in 2011/2012, and adjust the US cotton export expectation in the year of 2011/2012.

In November, USDA estimated that the US cotton output will reach 16 million 300 thousand packages in November, lower than the previous month's 16 million 610 thousand package.

US cotton exports were estimated at 11 million 500 thousand bales before 11 million 300 thousand bales.

ICE data show that the 7 day cotton market is not open for 140708 hands, the previous day was 139821 hands.

ICE data also showed that the total turnover volume of 7 days was 9344 hands, higher than that of the previous day's 12621 hands.