Bremen cotton Index moves upwards (Germany)

Despite a lack of substantial fundamental news the New York October quotation moved upwards, followed by the Cotlook A and CIF Bremen Index.

According to reports a number of reasons might have caused this development, starting with well performing US export for nearby shipments, short-coverings ahead of the USDA’s first survey based crop estimation end of the week, concerns about US weather patterns and the Indian crop as well as worldwide tighter supplies for higher qualities, good prices for competing crops and a weaker US Dollar in response to recent news from Europe.

The business at the domestic market was hardly influenced and limited turnover was more or less concentrated on necessary quantities to continue production after company holidays.

Turnover was registered in Central Asia for delivery prompt up to 3rd quarter 2012 and also West Africa and Paraguay for the 4th quarter 2012

Sales of LS/ELS cotton were reported in Giza 86 and US Pima for prompt delivery.