Market Movement from 09th Dec 2024 to 14th Dec 2024.

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• This week, we observed a neutral WASDE report and sluggish export activity. The NY March contract experienced minimal volatility, with daily closes showing very narrow fluctuations, either slightly up or down. Ultimately, the NY March contract ended the week with a loss of 84 points week-over-week (w/w).
• Export demand was sluggish, and China largely refrained from making purchases due to the anticipation of tariffs.
• In the latest U. S. Export Sales Report for the week ending 05-Dec-2024, U.S. export sales of cotton for the 2024-2025 marketing year reached a total of 1,59,900 bales, comprising net upland sales of 1,53,000 bales and net Pima sales of 6,900 bales. Shipments for the same period totaled 1,43,900 bales, with 1,37,400 bales of upland and 6,500 bales of Pima. Additionally, forward sales for the 2025-2026 marketing year amounted to 3,300 bales of upland, with no Pima sales reported.
• This week, the Gujcot Spot Rate showed slight fluctuations, starting at 53,800 Rs per candy on Monday and gradually declining to 53,700 on Tuesday and 53,600 on Wednesday. The rate remained steady at 53,600 on Thursday before rising marginally to 53,650 on Friday. The rate for Saturday was 53,500, indicating minimal week-on-week volatility in the cotton market.
• The Indian physical market experienced another range-bound week, with rates fluctuating within a narrow range near ₹53,700.
• The Cotton Corporation of India (CCI) has become the primary buyer in the market, prompting farmers to offload their produce in significant volumes. Daily arrivals have exceeded 230,000 bales, with CCI procuring 60% of the total arrivals, primarily from South India.
• During this week, the Indian basis ranged between 10.44 cemts and 11.44 cents.
• This week, the USD-INR exchange rate showed moderate fluctuations. Starting at 84.73 on Monday, it increased to 84.85 on Tuesday and slightly dipped to 84.83 on Wednesday. The rate peaked at 84.86 on Thursday before closing the week at 84.79 on Friday. Overall, the exchange rate demonstrated stability with minor day-to-day variations.
• "Hope for the best."