Market Movement from 04th May 2026 to 09th May 2026.

•  
• NY futures traded with huge volatility during the week. Following the news of a possible end to the conflict, crude oil prices declined sharply. However, as no concrete solution emerged, prices recovered and regained strength later in the week.
• NY July closed with a weekly gain of 54 points, while NY December closed with a weekly gain of 90 points. The spread between July and December contracts remained at 73 points.
• U. S. Export Sales and shipments were lower this week, but they still remained above the pace required to meet the USDA target.
• In the latest U. S. Export Sales Report for the week ending 30-Apr-2026, remained supportive for market sentiment. For the 2025-26 season, net upland cotton sales were reported at 1,23,349 bales, while upland shipments remained strong at 3,27,531 bales. Net Pima sales stood at 11,501 bales with shipments of 14,846 bales, taking total cotton sales for the season to 1,34,850 bales. For the 2026-27 season, new crop demand also showed steady interest with net upland sales of 48,400 bales and net Pima sales of 1,323 bales, resulting in total forward sales of 49,723 bales. Strong shipment figures continue to indicate healthy export demand for U.S. cotton in the global market.
• This week, the Gujarat cotton market witnessed a strong upward trend in spot rates. Gujcot Spot Rate opened on Monday at 64,000 and gradually strengthened throughout the week, rising to 64,250 on Tuesday and 65,000 on Wednesday. The bullish momentum continued on Thursday with the rate touching 65,750, the highest level of the week, before witnessing slight profit booking on Friday to close at 65,550. On Saturday, the Gujcot Spot Rate remained at 65,450. Market sentiment remained firm due to steady mill demand, limited farmer arrivals, and supportive international cotton prices, while traders continued to monitor export demand and currency movement closely.
• The Indian physical market remained steady to firm.
• Mills’ buying interest continued in the CCI auction. CCI sold nearly 6 lakh bales during the week. Overall, CCI has sold around 66 lakh bales out of its total procurement of 105 lakh bales.
• Indian basis also witnessed fluctuations during the week, as the Indian physical market remained steady to firm, while the rupee depreciated and NY futures traded with high volatility.
• During this week, the Indian basis remained between 1.21 and 5.98.
• This week, the USD-INR exchange rate witnessed mixed movement with a slightly firm trend in the Indian Rupee towards the latter half of the week. The exchange rate opened at 95.09 on Monday and improved marginally to 95.28 on Tuesday. Thereafter, the Rupee strengthened significantly as the rate declined to 94.61 on Wednesday and further to 94.25 on Thursday. However, on Friday, the market saw slight recovery in the Dollar with the exchange rate closing at 94.48. Overall, the week remained volatile with the Rupee showing strength against the U.S. Dollar during mid-week trading.
• Let’s hope for the best.