Monthly Rate Movement Report November– 2021
Posted : June 04, 2022

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.

 
  • NY futures remained very volatile during the month of November.

 

  • NY December option expired and lead month was March. NY December got high of 121 cents and NY March got high of 117 cents during the month. On last day of the month market collapsed limit down and ultimately NY December closed the month at 111.65 cents and NY March closed the month at 106.41 cents.

 

  • US Export sale was not impressive during this month due to higher rate. Shipment also remained very sluggish during this month.

 

  • China is going to close reserve cotton auction from 1st of December as rate on ICE also calm down on last day of month.

 

  • All future markets collapsed on 30th November due to fear of spread of omicron virus and also taper came early with comment by fed chairman.

 

  • MCX November future recorded high of 33,800 and remained high for some time and closed at 31,620.

 

  • Gujcot spot rate remain firm from the start of month with some India government intervention price halted for some time but due to disparity and firm sentiment of farmers price was well supported.

 

  • India rupee remained weak between 74 to 75 Rs/USD.

 

  • NY future has given opportunity to basis players.

 

  • As Indian cotton became competitive Indian exporters were active for November and December shipment.

 

Praying to save all of us from omicron and hoping for earning coming month.

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