Monthly Rate Movement Report – Jul 2019
Posted : August 19, 2019

Dear All Cotton Friends,

In our mission to give Daily Spot Rate Team Gujcot is getting valuable support from Gujcot broker’s panel. We appreciated their humble service to the trade. Gujcot Team is giving daily closing of Indian and foreign futures rates.

In this report we have provided Following Rates during the month.

 

  • Daily Physical Spot Rate

 

  • MCX Cotton Daily Closing Rate

 

  • USD-INR Exchange Rate Closing

 

  • Cotlook Index

 

  • ICE Future Closing

 

  • NCDEX Kapas Rate

 

  • MCX Future Closing

 

  • NCDEX and MCX converted into Rs. Candy Rate

 

We hope it will be useful to all the stake holders of Textile Value Chain.

 

Conclusion

  • Last NY Cotton future for crop season 2018/19 closed on July 31 2019.  During the year July contract remained very volatility and closed with 28% loss Y/Y. NY July 2018 was closed at 89.59 Cent. Year 2017/18 was ended with 30% gain and we can say it bull ended year while July 2019 ended at 63.84 with 28.7% loss Y/Y and end as a bear dominated year. US-China trade war was main reason for 2018/19 to remain as bear dominated year.
  • Now front month is December for next year future and hedging current ready cotton also. December NY touched low at 61.91 during this month and closed at 63.84 on last day of July during month December NY close 253 point lower or loss 3.85%.
  • In Indian physical market Gujcot Spot Rate started with 45,450 and sharply declined to 44,100 in 10 days. Market remained stable till 27 July. Good rain during last week  changed the market sentiment and July last day closed at 43,450. Overall July was bear dominated and lost 2,000 Rs. Candy in 29 mm and 28.5 mm both.
  • V 797  inventory is low, it lost 1,250 Rs. Candy during the month.
  • Amid firm sentiment in Indian market and bear trend in NY future, Indian basis remained strong between 16.32 to 20.24 on to December NY.
  • USD-INR pair remained very stable with narrow range between 68.42 to 69.04.
  • MCX July expired on 21,030 now august future is the last contract of for current season and so may remain volatile.
  • Weather is good and Indian cotton belt particular Gujarat received required and well needed rain in last few days.     

 

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