The first seed cotton has begun to move in East China. In Anhui Province, a large cotton grower in the Dongzhi area has started picking seed cotton; while a small volume of seed cotton has been picked in the Jingzhou area of Hubei Province. Gins in these areas have not yet started operations. Grower expectations for seed cotton prices continue to remain above that of merchants and ginners. Farmers are expecting seed cotton prices to open near 7.00 yuan per kilogram, while ginner ideas are closer to 5.6 to 5.8 yuan. The recent price of cottonseed oil has sharply declined, which has added to ginner bearishness.
