Market Movement from 23rd Mar 2026 to 28th Mar 2026.
• Short covering and rising crude oil prices kept upward momentum in NY futures. Shipments of more than 4 lakh bales during the week also provided positive support. Ultimately, the NY May futures contract closed with a handsome week-on-week gain of 215 points.
Cotton’s three-week rally gave us the 68 cents suggested last week, and then some. Yet, the market has now posted three consecutive down days. That should not be viewed as evidence that the rally is over. To the contrary, the same factors that sent prices higher are still in the market.
Markets are being led by geopolitics, with Middle East developments continuing to overshadow fundamentals.
• Markets continue to be driven by conflict in the Middle East, with geopolitical developments remaining front and center. After a volatile weekend, reports that President Trump postponed potential strikes by five days provided some temporary relief. Discussions with Iran remain ongoing, with the risk of disruptions to global energy flows still a key concern.
Market Movement from 16th Mar 2026 to 21th Mar 2026.
• Wishing all our stakeholders a very happy, prosperous, and healthy Hindu New Year.
• NY futures rose sharply on Wednesday following the announcement of a 3 lakh tonne import quota from China, firm MMF prices, the “Buy American Cotton Act,” and key technical price breakouts that triggered short covering and fresh buying interest.