Market Movement from 05th Jan 2026 to 10th Jan 2026.

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• The week started on a positive note following news that China has reduced its cotton planting for the next season. ZCE prices surged on this development, and the New York market followed the upward momentum. NY March futures crossed the resistance level of 65 cents and moved up to 65.70 cents, but failed to sustain at higher levels and gradually slipped back into the earlier trading range of 64–65 cents. Ultimately, NY March closed the week with a marginal week-on-week gain of 40 points.
• Export sales remained weak during the period, while shipments showed comparatively better performance.
• U.S. cotton export sales for the week ending 01 January 2025 showed steady demand in the current marketing year, with total sales of 1,02,300 bales for 2025–26, comprising net Upland sales of 98,000 bales and net Pima sales of 4,300 bales, while shipments remained healthy at 1,54,000 bales for Upland and 4,500 bales for Pima, reflecting continued execution of earlier commitments. For the new 2026–27 season, forward buying was modest, with net Upland sales reported at 22,500 bales and no Pima sales, indicating cautious early positioning by buyers.
• This week, the Gujcot Spot Rate showed a steady upward trend, reflecting firm market sentiment throughout the week. The rate opened at 54,300 on Monday and strengthened to 54,600 on Tuesday, followed by further gains to 54,800 on Wednesday. Buying interest remained supportive on Thursday with the spot rate rising to 55,050, and the market closed at 55,250 on Friday, while the Gujcot Spot Rate on Saturday was 55,350.
• In India, CCI buying is in full swing. Till date, CCI has procured 74 lakh bales of cotton, out of which Gujarat accounts for 9.75 lakh bales.
• With buying support from the CCI and the closure of the duty-free import window, the Indian physical cotton market remained firm. The Gujcot spot rate touched levels close to ₹55,500. In the private market, liquidity remained limited, making it difficult for mills to source cotton for their running requirements.
• Indian mills purchased a significant quantity of duty-free imported cotton lying at the port during the week.
• Mills have orders on hand, but the tight pricing of raw materials is making it difficult for them to break even.
• Indian basis levels are currently high, and after the closure of the duty-free window, they have continued to rise further.
• During this week, the Indian basis remained between 12.14 and 13.89.
• During the week, the USD–INR exchange rate showed mild volatility with a slightly firmer rupee midweek. The rate opened at 90.20 on Monday and edged down to 90.17 on Tuesday, before strengthening further to 89.88 on Wednesday. However, the rupee weakened thereafter, with the exchange rate rising to 90.02 on Thursday and closing the week at 90.16 on Friday, reflecting a largely range-bound movement over the period.
• Let’s hope for the best.