Southern Xinjiang cottonseed prices rebounded, and the bank’s confidence resumed

Affected by the recent upcoming storage of soybeans and the rebound of international oil prices, on November 13-15, the purchase prices of cottonseed in Korla, Aksu, and Kashgar in southern Xinjiang had rebounded slightly and stabilized. They were at 1.70 to 1.72 yuan/kg. Compared with the beginning of November, it was increased by about 0.05 yuan/kg; the purchase price of seed cotton was between 8.70 and 8.80 yuan/kg (with 40% of clothes and 13% of water), which was about 0.20 yuan/kg higher than that on the 12th, and the cotton enterprises' enthusiasm for delivery increased. On the 15th, cotton enterprises in Akesu District reported that the purchasing price of grade 2 lint had dropped to RMB 20,000-20,200/tonne (fair), and that of grade 3 was 19,600-19,800 yuan/ton (for platform delivery), which was RMB 700/ton lower than that on the 12th. At present, some Aksu-based processing companies can still receive 150-200 tons of seed cotton, and the main grade is mainly grade 3.

According to reports from some of the companies that have sent in storage, since the volume of daily reserve plans in early November was increased to 60,000-70,000 tons, the daily average trading volume in Xinjiang has also risen to more than 30,000 tons, and inventory pressure in some warehouses in southern Xinjiang has continued to increase. The delivery is relatively busy, so the inspection of lint return, grade, and impurities is more rigorous than in October. The upper limit of the single pack refill for plastic packaging and cotton packaging lint is set at 9-10%, of which 9-10% cannot Deposits are made, and warehouses are charging 15-20 yuan/ton for the cotton processing company.