Newsletter summary
Sugar output increased by 11.Powerballpreviousresults.06%PowerballpreviousresultsSales increased by 11.62%; American cotton prices fell 2.1%, and domestic cotton export data fell.
Text of news flash
White sugar market data stabilized, with raw sugar futures closing horizontally at 19.55 cents / pound.
Yesterday, the price of raw sugar was horizontal, and the main contract closed at 19.55 cents / pound. According to the domestic production and marketing data, by the end of April, sugarcane sugar mills in the 2023 / 24 sugar production period have been squeezed by all sugar mills except Yunnan Province. The country produced a total of 9.9539 million tons of sugar, an increase of 990000 tons or 11.06 percent over the same period last year. Among them, it produces 8.8149 million tons of sugar sugar and 1.139 million tons of beet sugar. A total of 5.7465 million tons of sugar were sold nationwide, an increase of 598200 tons over the same period last year, an increase of 11.62 percent, and the cumulative sugar sales rate was 57.73 percent, an increase of 0.29 percent over the same period last year. The inventory of the sugar industry was 4.2074 million tons, an increase of 392700 tons over the same period last year. The spot quotation in Guangxi is 6560,6620 yuan / ton, an increase of 20 yuan / ton. With regard to raw sugar, some agencies have recently released production estimates for Brazil, and it is generally believed that Brazilian production is still on the high side this year, while concerns about local logistics coexist, and there is still no breakthrough in short-term prices. Domestic April sales progress is OK, inventory pressure is not big, support the current spot prices, futures prices are also boosted by this, relatively strong, medium-term still facing import pressure.
Cotton market fluctuated, ICE American cotton fell 2.1%, domestic export data fell
On Thursday, ICE American cotton fell 2.1 percent to 78.38 cents per pound, while CF409 fell 2.2 percent to close at 15310 yuan per ton. Xinjiang cotton factory price was 16371 yuan / ton, up 97 yuan / ton from the previous day. China's cotton price index 3128B was 16664 yuan / ton, up 79 yuan / ton from the previous day. In the international market, the fluctuation range of American cotton has increased recently. From the perspective of supply and demand, the support for cotton price is weak, the weather during the planting period is suitable, the expectation of increasing production of American cotton is strong, the yield may exceed expectations, and the pattern of supply and demand is relatively loose, waiting for new drivers. In the domestic market, according to the export data released in April, China's textile and clothing exports fell in April compared with the same period last year. In dollar terms, textile exports fell 4.33% in April compared with the same period last year, and clothing exports fell 9.08% in April compared with the same period last year. Overall, the current cotton supply and demand at both ends are difficult to find uplink drive, is expected to maintain a weak shock trend.