Stock exchange news. Yesterday’s rise at stock market, as well as the rise of gold, silver, raw oil, and wheat provided support for cotton price. The report on the flow of harvesting, which was issued during the weekend, showed that 13 % of cotton yield in America had been harvested by Sunday, in comparison to 11 % of harvested yield during the previous week and 17 % of harvested yield during the equal period last year. The average volume of yield, harvested during such period of time, for the last 10 years amounts to 14 %.
The results of crop quality assessment showed that 29 % of future crop is good, in comparison to 27 % last week and 55 % last year. This is one of the worst figures for several decades.
Despite the global rise of cotton use, there is likelihood that heavy yield in China will cause a drop of export demand. The predicted record yield in India may enable the country to conquer considerable share of export from the USA.
Consequently, as the analytics of Masterforex-V academy Department of Derivatives Trading believe, at this point there are no grounds to expect the stop of descending trend.
