Market Movement from 13th Jan 2025 to 18th Jan 2025.

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• During the week, the NY future market experienced a very narrow trading range. The main bearish factors were a strong dollar, sluggish demand, and a bearish WASDE report. However, decent export sales provided some support to the market. Ultimately, the NY March futures ended the week within a narrow range, gaining 59 points week-over-week.
• Both export sales and shipments are performing decently.
• In the latest U. S. Export Sales Report for the week ending 09-Jan-2025, U.S. export sales for the 2024-2025 marketing year showed robust activity with net upland cotton sales reaching 3,16,300 bales and shipments totaling 2,24,800 bales. Net Pima cotton sales amounted to 2,900 bales, with shipments at 8,300 bales, bringing the total sales for the week to 3,19,200 bales. For the 2025-2026 marketing year, net upland sales were recorded at 1,300 bales, with no net Pima sales reported, resulting in a total of 1,300 bales.
• The Gujcot Spot Rate started at 53,850 on Monday, increased slightly to 54,000 on Tuesday, and then stabilized at 53,850 on Wednesday and Thursday. On Friday, the rate decreased to 53,700. The week's trend showed minor fluctuations, with a peak mid-week and a slight decline towards the weekend. The rate for Saturday was 53,650.
• The Indian physical market has remained under pressure due to a significant influx of arrivals, sluggish demand, and slow purchasing activity from mills. As a result, prices have stayed below ₹54,000 throughout the week.
• A weaker rupee has supported some yarn exports, leading to mills receiving orders for this month. However, forward sales remain negligible. Currently, mills are well-covered and are waiting before building additional inventory.
• The Indian basis ranges between 11.41 and 12.63.
• The all-India cotton arrivals have fallen below 2 lakh bales, likely due to a festival in a major cotton-growing state. Despite this, the Cotton Corporation of India (CCI) remains an aggressive buyer, having procured nearly 70 lakh bales to date. With a recent uptrend in cottonseed prices, ginners are finding some parity, allowing them to compete with CCI's procurement efforts.
• Starting next week, we can expect an increase in arrivals.
• This week's USD-INR exchange rate exhibited slight fluctuations, beginning at 86.58 on Monday and slightly increasing to 86.63 on Tuesday. Midweek, the rate saw a dip to 86.36 on Wednesday before rebounding to 86.55 on Thursday. The week concluded with a minor rise, closing at 86.61 on Friday. Overall, the exchange rate demonstrated relative stability with small variations throughout the week.
• Hope for best