Market Movement from 24th Mar 2025 to 29th Mar 2025.

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• NY futures experienced a relief rally driven by strong shipments and short covering. As a result, NY may close the week with a gain of 163 points week-over-week.
• U. S. Export Sales were close to one lakh bales, and the current commitment is nearing the target. As a result, any additional sales will be carried forward to the next year. Shipments have been robust, making it likely that the USDA's target of 11 million bales will be achieved. This indicates strong market demand in the high sixty range, suggesting that the target can be met without significant contributions from China.
• In the latest U. S. Export Sales Report for the week ending 20-Mar-2025, U.S. cotton export sales saw a total of 1,04,400 bales for the 2024-2025 marketing year, with net upland sales reaching 84,400 bales and net Pima sales at 20,000 bales. Shipments remained strong, with upland shipments totaling 3,93,400 bales and Pima shipments at 11,900 bales. For the 2025-2026 marketing year, net upland sales were recorded at 41,600 bales, while no new Pima sales were reported. The overall market activity reflects steady demand, with significant shipments supporting ongoing export momentum.
• The Gujcot Spot Rate remained stable at 53,400 on Monday and Tuesday before slightly dipping to 53,350 on Wednesday. It then showed a gradual upward trend, reaching 53,450 on Thursday, 53,550 on Friday, and 53,750 on Saturday. The market reflected steady movements with minor fluctuations, indicating balanced demand and supply dynamics.
• The Indian physical market remains steady, providing no clear direction. Due to the financial year-end, market yards have been closed for an extended period.
• After strong sales at the beginning, CCI is now struggling to find buyers at the current rate. To achieve its April sales target, CCI will need to make additional efforts. Mill buying has slowed down at the current level.
• During this week, the Indian basis remained between 12.41 and 14.29.
• A strong Indian rupee has made the basis costly, but steady Indian physical demand and an upward NY future have narrowed the basis compared to last week.
• This week, the USD-INR exchange rate exhibited slight fluctuations. It started at 85.64 on Monday and saw a marginal increase to 85.75 on Tuesday. On Wednesday, the rate dipped slightly to 85.70 before rising again to 85.78 on Thursday. By Friday, the exchange rate declined to 85.47, marking the lowest point of the week. Overall, the currency pair showed minor volatility with a downward trend towards the end of the week.
• Hope for best