Gujcot Weekly Report
Posted : April 17, 2021

Market Movement from 22nd Mar 2021 to 27th Mar 2021

  • A week of blood bath under total control of bears on cotton future markets. Particularly limit down on Thursday despite better US export sales report. Several reasons potentially combined to account for Thursday’s bearish implosion. Those include a stronger dollar, a weak looking chart, fear of Chinese retaliation over the banned Xinjian cotton, end-of-the-month adjustments, and a rise in global COVID-19 infections. After mills fixation and some short covering on Friday, NY May future rebounded still losing 430 points during the week.
  • U.S. Export Sales were decent and beyond require pace to meet the target. Total export Commitment of 15.7 million statistical bales crossed USDA projection, out of that 9.6 million bales already shipped. China cancels some quantity but that roll over to next year.
  • Following to NY Futures, Chinese cotton and yarn future also lost the ground and all contracts traded below 15,000.
  • CCI has reduced price for one time but in downtrend market they were not able to find buyers.
  • Indian physical market also in shock by continuous downfall in futures. All stake holders have long position so there is panic in the market. Due to panic situation in cotton market, MCX futures tumbled more than physical market.
  • Indian basis improved and recovered from -1,300 to square with NY Future. Now Indian cotton does not look cheaper.
  • India daily arrivals are now declining and remained close to 50,000+.
  • Gujarat daily arrivals were nearly 25,000 bales at the end of the week, but it may still go lower in coming week due to festival and closing of year.
  • Next week start with festival in India and also closing of financial year so trade will remain slow during the week.
  • In US trader’s eye on 31st March US planting intention report.
  • Indian rupee remained stable between 72.36 to 72.62.

Latest News
Gujcot Weekly Report
  • Market Movement from 12th Apr 2021 to 17th Apr 2021 • After weak opening of NY Futures on Monda
PCCA Cotton Market Weekly
  • APRIL 16, 2021 FUTURES RALLY AS PRICES MOVE UPWARD • Softer U.S. Dollar is a Tailwind for Co
Plexus Market Comments 15 Apr
  • So where do we go from here? July managed to hold above its long-term uptrend line dating back to