Gujcot Weekly Report
Posted : November 23, 2022
Market Movement from 13th Sep 2021 to 18th Sep 2021
- NY futures remained easy during week with lower volume. Speculator are now silent with market not able to cross technical resistance area. Overall NY December future closed with 117 points loss during this week.
- Export sales were decent around 3 lakh bales and shipment also better. China was among big buyers. But market ignored good US export sales and closed lower.
- In India arrival started in North and MP area. Rainfall has almost stopped in majority of cotton areas. Good sunshine will increase arrivals very fast in next week
- CCI was not able to sale much quantity
- Gujcot S6 rate remained range bound
- Volatility in US dollar has been noted from 73.67 to 73.47.
- At present Indian raw cotton export is negligible.
- Hope for good arrival in next week