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CCSE market chose to continue to drop and closed at relatively lower levels Wednesday. Positions of current delivery month (Aug. 2005) decreased obviously because of the coming last trading day. To the cocoon buyers, resistance was huge in late session. The enlargement of forward delivery months’s open interest showed the opinions of both sides widened further.

Raw silk for Aug. 2005 opened at 218600 Yuan and closed at 216500Yuan, with 134handsd were traded.

Dried Cocoon for March 2006　opened at 66300Yuan, touch the intraday low of64700　Yuan and closed at 65100 Yuan, with 468 hands were traded.

However, the spot raw silk price kept relatively stable because of the rising demand. But trading was limited.