Technical Reasons Led to Adjustments of Positions by Funds Effecting The Quotations

During the last couple of days, all indices mainly followed the New York futures development. Despite nice U.S. export data and once again reduced stocks of high qualities, the surprisingly good rainfalls in Texas as well as the planting progress obviously seem to have had the largest influence on the movements on the futures market at last. Technical reasons led to adjustments of positions by funds effecting the quotations, too.

Contradictory news and decreasing prices irritated potential buyers of medium staple cotton. Decisions on covering beyond current need have been postponed preliminarily awaiting the further price development. Long and Extra-Longstaple demand led to considerably larger orders; special varieties were also covered for the new crop.

Contracts were concluded for:
-Medium Staple Cotton: West Africa and Central Asia for prompt delivery and the 3rd quarter 2014.
-Long and Extra-Long Staple Cotton: Egyptian Giza 86 and Israel Acalpi for prompt delivery, US-Pima and Israel Pima for prompt and the 3rd quarter 2014 and US SJV Acala rgd for the 1st quarter 2015.