Market Movement from 16th Dec 2024 to 21st Dec 2024.

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• New York's future continues on a slow declining path. Even improved export performance has not been enough to support positive sentiment. Ultimately, by the end of week, March future closed with a loss of 121 points week-over-week.
• In the latest U. S. Export Sales Report for the week ending 12-Dec-2024, U.S. cotton export sales for the 2024-2025 marketing year totaled 1,95,400 bales, comprising 1,94,900 bales of net upland sales and 500 bales of net Pima sales. Shipments for the same period included 1,28,600 bales of upland and 12,000 bales of Pima cotton. Forward sales for the 2025-2026 marketing year amounted to 6,900 bales of upland cotton, with no recorded Pima sales.
• The Gujcot Spot Rate exhibited slight fluctuations, starting at ₹53,300 per candy on Monday and increasing to ₹53,500 on Tuesday. It dipped marginally to ₹53,450 on Wednesday and further declined to ₹53,250 on both Thursday and Friday. The rate on Saturday was ₹53,300.
• The Indian physical market remained stable to slightly down, influenced by prevailing sentiment.
• A significant development is the large-scale arrival of produce and unlimited purchases by the Cotton Corporation of India (CCI). With Minimum Support Prices (MSP) set higher than open market rates, farmers are eager to sell their produce to the CCI, taking advantage of the favorable pricing.
• The daily arrival of cotton across India ranges between 2,25,000 to 2,40,000 bales, with a significant portion of this being procured by the Cotton Corporation of India (CCI).
• To date, the CCI has procured over 35 lakh bales.
• Ginners faces significant disparities, which slows down private ginning operations considerably.
• Due to the slow operations in private gin, there are difficulties in obtaining the required raw materials for spinning mill.
• Indian basis levels remain stable due to a weaker rupee, ranging between 11.05 and 12.17.
• This week, the USD-INR exchange rate showed a steady upward trend with minor fluctuations. Starting at 84.86 on Monday, the rate slightly increased to 84.89 on Tuesday and 84.95 on Wednesday. The highest rate of the week was observed on Thursday at 85.07, followed by a slight decrease to 85.02 on Friday. Overall, the exchange rate demonstrated consistent growth with a marginal dip at the end of the week.
• For October India has exported 105171 bales of 170 Kgs. while India Imported 364248 bales of 170 Kgs.
• "Hope for the best."