Monthly Rate Movement Report – May 2020
- • Gujarat ginners and spinners resumed partial operation after relaxation in lockdown. Month started with some higher rate and declined fast in the first week itself.
• NY July is lead month for old crop and NY December is first month to hedge new crop and roll over of old crop hedging. July-Dec spread was in full carry at the start of the month but towards the end of the month it became inverse. It shows that next year will start with huge opening and traders are not in a mood to go Bull on new crop.