Conjecture about buyers' demand for cotton supplies due to recent declines in prices of the soft fiber pushed up the commodity's price, Bloomberg reports. Surging more than three percent to $1.1546 per pound on ICE Futures in New York, cotton for March delivery was trading at $1.154 just before 3 p.m. in Tokyo. Prices for… Read more.
Renewed Chinese demands for cotton prompted the soft commodity's rebound from a three-session slump, Bloomberg reports. Cotton output in China, the globe's largest consumer of the fiber, is projected to slip as much as 5.5 percent due to damaged crops and inclement weather, according to a research company cited by Bloomberg. "Prices look quite good… Read more.
The rising price of industrial and agricultural commodity futures is straining the ability of many firms to maintain their margins without raising prices. A price increase will always be the last resort, particularly when consumer spending remains depressed and lines of credit are drying up for many buyers. Yet retailers and manufacturers have to find… Read more.
Despite signs that Chinese demand for imported cotton will continue to grow, cotton futures traders backed away from the record prices being set by the fiber. On the IntercontinentalExchange, No. 2 cotton futures for March 2011 delivery slid 5.36 percent, or 6 cents – the exchange-imposed limit – to 111.79 cents per pound. According to… Read more.
Indian exports of cotton might not fill the government's quota due to record prices and the fact that some exporters are not supplied, according to an international exporter cited by Bloomberg. Exports of the soft fiber from India, the second-largest grower following China, might be 62 percent less than the 5.24 million bales allowed to… Read more.
China reducing the pace of cotton growth and India enhancing the planting of the soft fiber spawned beliefs that global demand for it will slide, Bloomberg reports. Amidst cotton's price sinking to a four week low in New York and its futures slipping in Zhenzhou, China – the world's largest cotton importer – ordered its… Read more.
The Chinese government continued its hawkish moves against inflation, trying to suppress the rising price of key goods by altering banking policy. The People's Bank of China raised its reserve ration – the amount of capital that banks must hold available – by 50 basis points. The move will likely contract liquidity and slow some… Read more.
Shortages in major producing nations, export quotas and a shift to more-profitable crops are all pushing up the price of key food commodities – and that's raised the cost of importing food for nations around the world. The consequences, warns the United Nations' Food and Agricultural Organization, could be severe. The global food import bill… Read more.
Preoccupations about China exerting additional measures to cap inflation prompted cotton to extend losses in New York as the soft commodity's futures tumbled in Zhenzhou, Bloomberg reports. For the first time in six quarters, a consumer confidence index in China – cotton's biggest consumer – fell on Wednesday because of inflation concerns as well, according… Read more.
John Deere & Company tractor sales are expected to increase as commodities perform strongly, Bloomberg reports. Since late July, the Thomson Reuters/Jeffries CRB Index of 19 raw materials indicates commodities prices are higher. But, on top of that, agricultural products have been leading the largest rally since 1972 as cotton prices have skyrocketed 76 percent… Read more.