Market Movement from 26th Jan 2026 to 31st Jan 2026.

• NY March futures traded in a narrow range of 62.75 to 64.40 during the week. Despite strong export sales reported consistently over the past three weeks, the market largely ignored the positive data and remained range-bound, as broader macroeconomic conditions failed to provide support. NY March closed the week with a loss of 64 points on a week-on-week basis.
• With January marking the end of the month, price movement throughout the period remained confined within a narrow band. NY March futures closed the month of January with a loss of 110 points on a month-on-month basis.
• In the latest U. S. Export Sales Report for the week ending 22 January 2025, U.S. cotton export sales showed solid activity for the 2025–26 season, with net upland sales of 2,03,700 bales and upland shipments of 2,57,000 bales, indicating healthy execution of existing commitments. Net Pima sales stood at 24,800 bales, while Pima shipments were reported at 4,500 bales, taking total net sales for the season to 2,28,500 bales. Forward interest for the 2026–27 season remained modest, with net upland sales of 15,000 bales and net Pima sales of 500 bales, aggregating to a total of 15,500 bales, reflecting early-stage demand under prevailing market uncertainties.
• This week, the Gujcot spot rate showed a gradual downward trend, opening at ₹55,350 on Monday and easing to ₹55,250 on Tuesday, followed by further weakness to ₹55,100 on Wednesday. The market softened again on Thursday to ₹55,000 and remained unchanged on Friday at ₹55,000. On Saturday, the rate closed at ₹54,900, reflecting subdued buying interest and cautious market sentiment throughout the week.
• In India, mill buying remains slow as most mills are already well covered. At current price levels, there is no buying interest in CCI cotton, resulting in a flop show in CCI’s selling operations.
• In the market, textile mills are able to procure cotton with their preferred quality parameters at lower prices from private ginning units, whereas CCI does not offer cotton on a parameter-based basis. As a result, mills give first preference to private ginners who can supply cotton with fixed and assured quality parameters.
• Indian physical prices remained somewhat under pressure, with only limited buying interest from mills.
• The mills have sufficient orders and adequate inventory, allowing operations to run smoothly.
• During this week, the Indian basis remained between 12.81 and 13.82.
• This week, the USD–INR exchange rate showed mild volatility, opening at 91.94 on Monday before strengthening to 91.72 on Tuesday. The rupee weakened slightly on Wednesday with the rate moving to 91.78, followed by a sharper depreciation on Thursday to 91.95. The week ended on a softer note for the rupee, with USD–INR closing at 91.98 on Friday, indicating overall marginal weakness during the week.
• “Hope for the best.”