{"id":53347,"date":"2014-06-26T09:35:44","date_gmt":"2014-06-26T13:35:44","guid":{"rendered":"http:\/\/countingpips.com\/?p=53347"},"modified":"2014-06-26T11:50:53","modified_gmt":"2014-06-26T15:50:53","slug":"cotton-futures-falls-on-global-supply-outlook","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/06\/cotton-futures-falls-on-global-supply-outlook\/","title":{"rendered":"Cotton Futures Falls on Global Supply Outlook"},"content":{"rendered":"
June 26, 2014<\/div>
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By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Cotton futures slid after entering bear market on Wednesday as forecasts for crops in the US, the world\u2019s largest biggest exporter; improved and showed signs of abundant world supplies.<\/p>\n

Ample rains have eased drought conditions in Texas; the US leading crop grower; in the past two months, according to Drew Lerner, the president of the World Weather. The US Department of agriculture predicts domestic output may climbed by 16% from the previous year to the season that begins August 1.<\/span><\/p>\n

Cotton futures have fallen by 11% this year. Data from USDA showed that the bigger American crop will add to stockpiles in China, boosting global inventories to its highest.<\/p>\n

\u201cWe\u2019re going to have a very good crop, and that\u2019s a problem,\u201d Mike Seery, the president of Seery Futures in Plainfield, Illinois, said. \u201cThe market doesn\u2019t have any good fundamentals, there\u2019s just going to be a lot of supply,\u201d he added.<\/p>\n

Cotton futures for December delivery lost 1.6% to 75.26 cents a pound at the time of writing on the ICE Futures US, marking a 21% drop since this year\u2019s settlement high of 94.75 cents on May 5.<\/p>

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US Economy<\/span><\/h2>\n

The US economy contracted 2.9% in the first quarter, compared to analysts forecasted of a 1.8% contraction, according to a report from the Department of Commerce.<\/p>\n

According to the USDA, domestic farmers may collect 15 million bales this year, compared to last year\u2019s figure of 12.91 million.<\/p>\n

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The post Cotton Futures Falls on Global Supply Outlook<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Cotton futures slid after entering bear market on Wednesday as forecasts for crops in the US, the world\u2019s largest biggest exporter; improved and showed signs of abundant world supplies. Ample rains have eased drought conditions in Texas; the US leading crop grower; in the past two months, according to Drew […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-53347","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/53347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=53347"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/53347\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=53347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=53347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=53347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}