Gujcot Trade Assocation

News & Reports

ICE Cotton Update

ICE Cotton jumps 2% on Chinese buying, weak dollar

ICE cotton futures rose more than 2% on Friday and were set for a weekly gain, lifted by increased demand from top consumer China and a weaker dollar.

The cotton contract for December gained 2.26 cents, or 2.1%, to 108.40 cents per lb by 13:38 EDT (1738 GMT). It has gained about 1.7% so far this week.

Gujcot Weekly Report 23-Oct-2021

Market Movement from 18th Oct 2021 to 23rd Oct 2021.
• Another highly volatile week with daily trading range of more than 300 to 400 points in NY future.

• Decent US Export sales but market ignored it and closed 400 points lower on Thursday. NY December ultimately closed with 93 points gain.

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Jernigan Global Weekly 25-Oct-2021

News Letter 25-Oct-2021

1. SUPPLY CHAIN COLLAPSE, POOR MANAGEMENT OF LOGISTICS, CONTAINER LINE ABUSE AND GREED … ALL CAUSE MAYHEM FOR COTTON TRADE

2. WILL THE PLUNGE IN THE TURKISH LIRA IMPACT COTTON DEMAND?

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Thompson on Cotton

Export Sales Receive Boost as China Returns to Market
October 25, 2021

There was a lot of movement in the market last week, only to end up right back where it started. After a week of ups and downs, the December contract settled at 108.26 on Friday while March 22 closed at 106.19, up two cents from its previous close but well within its 104- 113 cent trading range.

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ROSE ON COTTON

COTTON MARKET POSTS MODEST WEEKLY GAIN
Oct 25, 2021

The ICE Dec cotton contract picked up 93 points last week, finishing at 108.26, with the Dec – Mar spread inversion contracting to 207. Last week our models predicted a finish on the week that was to be near unchanged to lower Vs the previous Friday’s settlement, which proved to be incorrect, although recent volatility invites a discussion of what “near unchanged” means.

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DTN Cotton Close

Ends Fractionally Higher
October 25, 2021

After a strong Sunday night surge, the cotton market only managed to settle slightly up Monday. The market was aware of overnight Chinese buying, but also knew the global shipping crisis continues to hamper the global economy. Thus, future exports may continue to be lax. Traders also heard comments from President Xi at the UN that indirectly lambasted the United States.