Market Movement from 06th Apr 2026 to 11th Apr 2026.

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• As the May contract approaches option expiry, funds have started rolling over their positions into the July contract. Strong yarn demand sentiment, along with decent export sales and shipments, supported the May contract, resulting in another positive week for the market. Although the somewhat bearish WASDE report was largely ignored by traders, NY May futures ultimately closed the week with a gain of 230 points week-on-week.
• U. S. Export Sales and shipments were both at decent levels.
• In the latest U. S. Export Sales Report for the week ending 02-Apr-2026 U.S. cotton export sales reflected healthy demand, with net upland sales for the 2025-26 marketing year reported at 3,19,580 bales, while upland shipments remained strong at 3,42,744 bales. Net Pima sales stood at 6,454 bales, with Pima shipments totaling 10,579 bales, bringing total cotton sales for the current season to 3,26,034 bales. For the 2026-27 marketing year, new crop sales were modest, with net upland sales recorded at 14,051 bales and no net Pima sales reported, resulting in a total of 14,051 bales, indicating steady export interest in U.S. cotton despite slower forward booking activity.
• The April 2026 USDA-WASDE cotton report is mildly bearish for the global cotton market. In the U.S. balance sheet, there are no changes to 2025-26 supply and demand estimates, though the season-average farm price is raised by 1 cent to 61 cents per pound. Globally, cotton production for 2025-26 is increased by nearly 9,00,000 bales, mainly due to higher output in China, India, and Pakistan. World consumption is also raised by about 5,60,000 bales, supported by stronger mill use in China and India, but this is outweighed by larger production gains. Global exports are reduced by nearly 1,90,000 bales, led by lower Indian exports, while ending stocks rise by over 6,50,000 bales, mainly in India and China. Overall, higher production and rising ending stocks push the global stocks-to-use ratio up to 64.7%, indicating a slightly more burdensome supply outlook.
• This week, Gujcot spot rates remained largely steady with minor fluctuations throughout the week, opening at 59,650 on Monday, rising to 59,800 on Tuesday, easing to 59,700 on Wednesday, declining further to 59,550 on Thursday, and recovering to 59,650 on Friday, while on Saturday the rate was 59,400.
• In the Indian physical market, prices are now facing resistance near the 60,000 mark, but they continue to remain firm around that level. Meanwhile, CCI recorded another strong week, with sales of 5,38,000 bales during the week.
• The Indian rupee gained strength following the ceasefire between the U.S. and Iran, supported by easing geopolitical tensions and lower crude oil prices. Despite the stronger rupee and firm New York cotton futures, the Indian basis continues to remain steady between 8.49 to 10.70.
• This week, the USD-INR exchange rate remained relatively steady with a slightly weaker rupee trend toward the end of the week. The market opened on Monday at 93.06 and edged lower to 93.01 on Tuesday, followed by a stronger rupee movement on Wednesday at 92.58, marking the week’s lowest level. However, the rupee gave up some gains thereafter, with the exchange rate rising to 92.66 on Thursday and closing the week at 92.73 on Friday, indicating mild volatility but overall stable movement in the currency market.
• Let’s hope for the best.