A Cyclonic Circulation is over East Uttar Pradesh. A Trough is extending from this Cyclonic Circulation up to West Bengal across Bihar and Jharkhand. Another Cyclonic Circulation is over Southwest Madhya Pradesh. A Trough is extending from this Cyclonic Circulation up to East Uttar Pradesh. An Anti- Cyclone is over Northeast Bay of Bengal. A Confluence Zone is seen over North Chhattisgarh to Gangetic West Bengal. A Cyclonic Circulation is over Central Pakistan and Northwest Rajasthan and adjoining Punjab.
The dominant feature in the cotton market, as it is in all financial markets, remains concerns surrounding the coronavirus. Yet, cotton has shown signs of responding to the traditional fundamentals associated with the market.
May cotton closed down 1.44 cents Monday at 67.56 cents, a fourth consecutive day lower with pressure from widespread selling in commodities and U.S. stocks, related to fears about the spread of coronavirus.
ICE COTTON POSTS MODEST WEEKLY GAINS, NCC AND USDA DIFFER ON PLANTED ACREAGE PROJECTIONS
ICE cotton finished higher for the week ending Feb 21, with May and Dec each picking up 59 points to finish at 69.00 and 69.84, respectively. The May – July spread was near unchanged at (84), which is far less than full carry. Our proprietary model (timely prediction available in our complete weekly report) predicted a settlement for Mar that was to be near unchanged to higher Vs the previous Friday’s finish, which proved to be correct.