Gujcot Weekly Report
Posted : November 23, 2022

Market Movement from 06th Jun 2022 to 11th Jun 2022.

  • This week was bull dominated week in NY future.
  • Market rose after US export sales report. During the last two weeks U.S. export sale showed unexpected rise. Still 27000 contracts are to be fixed for July future and time is running out. July option has expired.
  • All these situations bring back NY July future near 146 cents. And ultimately NY July closed this week at 145.06 cents with 688 points weekly gain. While NY December closed at 122.36 with gain 446 points weekly gain.
  • Export sale was decent at 259,500 bales for current and 102,900 bales for next marketing year. Shipment was 347,000 bales.
  • No major changes in July WASDE.
  • Very slow arrivals in India now. Cotton Rate was stable to firm.
  • Although mills have reduce their consumption, some mills have diverted to M.M.F.
  • Weavers are waiting for imported yarn. So mills are not able to sale yarn either in domestic market or abroad. Despite this situation cotton rate remained firm due to lack of supply.
  • Indian monsoon is delayed for a week.
  • Sowing picked up in cotton growing areas now. Hope for better monsoon and more yield with more cotton cultivation area.
  • Government has interested MSP of kapas by 354 Rs per quintal.



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