crashbandicoot3switch| Everbright Futures: May 24 Soft Commodity Daily

White sugar:

Yesterday, raw sugar futures prices continued to hover lowcrashbandicoot3switch, the main contract closed at 18crashbandicoot3switch.26 cents/pound. In the week ending May 22, the number of ships waiting to load sugar in Brazilian ports was 82, compared with 113 in the previous week. The amount of sugar waiting for shipment at the port is 350crashbandicoot3switch.24 million tons, compared with 4.6689 million tons in the previous week. In terms of spot, Guangxi's spot price is 6,500 - 6,590 yuan/ton, down 20 yuan/ton. Raw sugar futures have been continuously consolidated at low levels. The current market demand is highly dependent on Brazil. Production in the first two weeks of May will be announced next week. The market is still worried about Brazilian production. The domestic spot market quotation price was slightly lowered yesterday. The market was in a wait-and-see mood. Concerns about imports after July still remained and continued to maintain a bearish view.

Cotton:

On Thursday, ICE U.S. cotton rose 2.92% to close at 81.7 cents/pound, CF409 rose 1.07% to close at 15530 yuan/ton, and the factory price of cotton in Xinjiang was 16096 yuan/ton, up 16 yuan/ton from the previous day. China's cotton price index 3128B was 16439 yuan/ton, up 31 yuan/ton from the previous day. In terms of the international market, the center of gravity of U.S. cotton prices has continued to move up from low levels recently, with certain impacts on the macro and weather levels. The Federal Reserve continues to be biased and the weather has risen. U.S. cotton export data was released, and the net contracted volume increased month-on-month. Export data also had certain support, and U.S. cotton futures prices were strong and volatile. In the domestic market, driven by the US cotton, the focus of Zheng cotton's main contract has shifted again, but its positions have continued to decline. Fundamentally speaking, cotton prices lack the driving force of a sharp rise and are still treated as a rebound. It is expected that Zheng and cotton will be dominated by shocks in the short term, and will remain under pressure in the medium and long term, and continue to pay attention to changes in weather and inventory.

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