巴西市场棉花价格继续保持坚挺

Cotton prices continue to remain firm in Brazilian market

Since early March, cotton quotes have been firm in the Brazilian market. Since then, the CEPEA/ESALQ Index, 8-day payment terms, for cotton type 41-4, delivered in S茫o Paulo, has oscillated only slightly, closing between 2.7118 real and 2.7705 real per pound. The widest variation was observed in early March, when the Index rose 1.06 per cent.

Between March 31 and April 28, the CEPEA/ESALQ Index, 8-day payment terms, for cotton type 41-4, delivered in S茫o Paulo, remained stable (-0.01%), closing at 2.7641 real ($0.8719) per pound on April 28.

In mid-April, cotton trades were weak in the Brazilian market. In general, sellers were more active than purchasers. Some processors did not buy cotton then as they had adequate stock, and only small plants purchased in small volumes, the Center for Advanced Studies on Applied Economics (Cepea) said in its latest fortnightly report on cotton.

In late April, some batches (mostly small volumes) were purchased for quick delivery, either with purchasers flexible regarding quality or with sellers willing to lower their asking prices.

Although the National Supply Company, Conab, has indicated a 14.3 per cent larger output in 2016-17 season, some growers continue firm, waiting for higher prices until the new crop enters the market. Agents from processors, however, are cautious as the pace of by-products sales has been slow.

译文如下：

巴西市场棉花价格继续保持坚挺

自3月初以来，在巴西市场上，棉花报价一直保持坚挺。自那以后，41-4型棉花8天付款条件，圣保罗交货的CEPEA / ESALQ指数略显振荡，每磅收于2.7118到2.7705之间。最广泛的变化是在3月初，该指数上升了1.06%。

3月31日到4月28日期间，41-4型棉花8天付款条件，圣保罗交货的CEPEA / ESALQ指数保持稳定(-0.01%)，4月28日收于每磅2.7641(0.8719美元)。

4月中旬，巴西市场的棉花交易疲软。一般来说，卖家比买家更为活跃。那时一些交易商没有购买棉花，因为他们有足够的库存，只有小工厂少量购买，应用经济学的高级研究中心的(Cepea)在其最新的双周刊报道称。

在4月末，一些批次(主要是小批量)是为了快速交货而购买的，要么是在质量方面有弹性，要么是卖家愿意降低他们的要价。

尽管国家供应公司Conab已表示，2016 -2017季节有14.3%的大量，一些种植者继续保持坚挺，等待价格上涨,直到新的作物进入市场。然而，代理商较为谨慎，因为副产品销售的速度一直很缓慢。