The cotton market moved to the lower end of its long-term trading range this week, with inquiries for U.S. cotton increasing at these lower price levels. Harvest is progressing quickly across the country, although rain in the forecast may hinder momentum. How will next week’s presidential election, November Supply and Demand Estimates (WASDE) Report, and Federal Open Market Committee Meeting (FOMC) influence the market? Get QuickTake’s read on the week’s events in five minutes.
President's Message - Seven Years of Gujcot Trade Association
Dear Members and Friends,
I am delighted to share this message as we celebrate Seven years of the Gujcot Trade Association. This milestone is a testament to the dedication and hard work of our entire team, and it fills me with immense pride to see how far we've come.
Market Movement from 21st Oct 2024 to 26th Oct 2024.
• In the beginning of the week, the NY December contract saw an uptick, crossing the 72 cents/lbs level. However, as the week progressed, prices gradually declined. Geopolitical tensions and slower export demand contributed to this downward pressure, ultimately resulting in a weekly loss of 33 points for the NY December contract.
Cotton futures were up for the week, but a lack of news left the marketplace relatively quiet. U.S. export sales saw a slight uptick as a result of the recent decline in prices. With geopolitical tensions and the upcoming presidential election on the horizon, what impact might these factors have on markets? Get QuickTake’s read on the week’s events in five minutes.