New York Cotton Rose To 64.99 Cents A Pound On Monday.

New York cotton rose sharply on Monday, recording the largest one-day gain since March, due to a weaker dollar, triggering a surge in commodity markets and concerns about the poor weather conditions in the late US cotton growing season.

The most active Intercontinental Exchange (ICE) -12 month

Up to 4%, up to 64.99 cents per pound, the stop loss order was triggered, helping to expand the price, pushing prices up to short-term moving average and technical resistance levels.

The contract closed up 1.91 cents, or 3%, at 64.38 cents a pound.

The weakening of the US dollar boosted the commodity market and reduced the cost of buying dollar denominated commodities by investors holding other currencies.

The US dollar index is down, down from last week's more than four year high.

Market expectations

The Ministry of agriculture may reduce the US cotton output forecast for the 2014/15 crop year in the monthly supply and demand report released on Friday, because the weather condition is more and more unfavorable for the late growth of crops because of the harvest peak of cotton, which also helps to support the rally.

Thomson Reuters

The index rose sharply, with 18 of the 19 components rising.

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According to the report of the General Statistics Office of Vietnam, the index of Vietnamese industrial production in September (2014) increased by 8.6% over the same period last year.

Among them, the processing and manufacturing industry grew by 9.2%, electricity production and distribution grew by 12.6%, water supply, waste water and garbage disposal industry grew by 6.8%, and mining industry grew by 5.6%.

In the first 9 months of this year, Vietnam's industrial production index grew by 6.7% over the same period last year.

Among them, the manufacturing industry grew by 8.3%, electricity production and distribution grew by 11.2%, water supply, waste water and garbage disposal industry grew by 6%, and the mining industry grew by 0.4%.

Compared with the same period in 2013, the manufacturing industry grew by 35.9%: electronics, computers and optical products; 20.7% growth of leather and related products; 18.9% growth of engine vehicles; 18.8% growth of textile industry; 13.5% growth of cast metal products (except mechanical equipment); 12.1% growth of paper and paper products; 11.4% growth of uniforms; 11.2% growth of power production and distribution.

The growth of industrial products compared with 2013 includes: mobile phone growth 47.3%, car 27.5%, fresh milk 20.9%, leather shoes 19.8%, fiber weaving 16.1%, TV 15.6% and so on.