Market Movement from 03rd Feb 2025 to 08th Feb 2025.

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• NY Futures did not experienced significant changes during this week, but during the week NY march Future touched contract low of 65.01 cents per lbs. The technical outlook remains weak. The market is awaiting the WASDE report next week, which could influence a trend reversal. NY March future closed with a weekly loss of 25 points.
• US Export sales were somewhat low, but shipments were better.
• In the latest U. S. Export Sales Report for the week ending 30-Jan-2025, U.S. cotton export sales showed strong activity, with total net sales for the 2024-2025 marketing year reaching 1,94,800 bales. Net upland cotton sales were 1,88,900 bales, while net Pima sales totaled 5,900 bales. Shipments were also robust, with 2,21,100 bales of upland cotton and 15,500 bales of Pima cotton exported. Looking ahead to the 2025-2026 marketing year, net upland sales stood at 14,900 bales, with no new Pima sales reported. The overall market performance reflects steady demand and shipment progress.
• The Gujcot Spot Rate started at 52,500 Rs per candy on Monday, rising to 52,600 on Tuesday and 52,800 on Wednesday. The rate remained steady at 52,800 on Thursday before increasing to 52,900 on Friday. On Saturday, the rate was 53,000. The market showed a gradual upward trend throughout the week, reflecting steady demand and firm price movement.
• In India, the physical cotton market trend remains steady to firm, as the market appears to be nearing a bottom. Gujcot spot rates have firmed within the range of 52,800 to 53,200.
• The All India daily cotton arrival is now approximately 1,40,000 to 1,50,000 bales.
• CCI has procured nearly 86 lakh bales and continues to purchase regularly.
• The Indian rupee has weakened against the dollar to a new low.
• During this week, the Indian basis remained between 10.12 and 11.70 cents per lbs.
• This week, the USD-INR exchange rate fluctuated within a narrow range, starting at 87.19 on Monday and dipping slightly to 87.07 on Tuesday. It then saw an upward trend, reaching 87.47 on Wednesday and peaking at 87.58 on Thursday before closing at 87.42 on Friday. The mid-week surge suggests increased demand for the USD, while the slight dip on the last trading day indicates some correction in the market.
• Hope for best