Market Movement from 06th Dec 2021 to 11th Dec 2021.
NY March started this week with triple digit gain and hold the gain throughout week with minor changes in last four days. Ultimately closed at 106.23 with 203 points gain.
WASDE was generally neutral with minor changes. A small quantity in US crop increased.
World's consumption increased and production lowered. Also, correction in Indian opening stock. So, worlds ending stock decline by 1.2 million bales.
Export sales was healthy to nearly 3.90 lakh bales. But shipment was in slower pace with 1,23,500 bales shipment during the week.
Indian daily arrival increased to 1.50 lakh to 1.80 lakh bales a day.
Gujarat shankar-6 price softened but still holds key support near 65,000 Rs per candy.
Buying slowed down due to lower yarn demand and yarn price.
Exporters are active for December shipment.
Gujarat arrival is nearly 40,000 to 45,000 bales a day.
Indian currency is weaker against USD at 75.76 Rs/USD.
Indian basis are in positive territory.
In next week we hope to get better arrival of 2 lakh bales a day.
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U.S. EXPORT SALES
For Week Ending 28-Jul-2022
2021-2022
Net Upland Sales -1,12,400
Upland Shipments 2,79,700
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