Mumbai (Commositiescontrol) - ICE cotton on-call sales in most active December contract reduced 520 contracts to 12,182 contracts. On-call purchases also decreased 795 contracts to 7,195 contracts during the week ended 30 October, as per CFTC report.
However, ICE cotton on-call sales in March contract jumped 52 contracts to 21,307 contracts. On-call purchases increased 94 contracts to 3,597 contracts.
Cotton prices may trade sideways in the coming sessions in December contract. The data showed that speculators squared-up their position in December contract and increased in March month contract. Only traders are holding their position in the spot (December) contract.
Total on-call sales on all active futures reduced 184 contracts to 105,216 and total purchasers also reduced their buying position by 228 contracts to 20,029 contracts.
On-call positions represent spot cotton sold to or purchased from a merchant, based out of New York cotton futures contracts of 500-pound bales. Prices are not yet fixed against these contracts.
Open interests in December futures reduced 6,524 to 105,216 contracts. Total open interest on all futures increased 3,608 contracts to 199,736 contracts. At the same time, open interest in March futures increased 7,049 contracts to 69,773.
(By Commoditiescontrol Bureau; +91-22-40015522)
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