The Season 2018 -2019 started with bullish sentiment in India. Indian cotton crop was predicted 343 lakh bales at the start of the season against 365 to 375 lakh bales of season 2017-2018. Opening stock was low and mills requirement of new cotton was high. With bull sentiment season touched double top at 47,150 on 15th October at the start of the season.
Gujarat cotton crop is estimated as 1,06,94,302 Bales out of which 2,75,000 Bales will be of V-797 rest will be Shankar-6. Gujarat cotton crop yield is expected to rise by 32.97% and crop is expected to increase by 30.83%
we estimate total Gujarat cotton pressing to be 120-125 Lakh Bales of 170 Kg.
*Market Movement from 05th Dec 2022 to 10th Dec 2022*
• NY March traded between 80 to 86.50 cents during this week. First two days of the week closed in green but lost all gain in remaining three days due to lower export sales and bearish WASDE. Ultimately NY March closed with loss of 225 points W/W.
Market Movement from 19th Dec 2022 to 24th Dec 2022.
• NY future closed in green 4 out of 5 sessions. On Thursday market closed limit down due to huge export sales cancellation by China. Despite Covid worry in China and bearish export sales market closed in green W/W. March NY gained 329 points during the week.
Market Movement from 26th Dec 2022 to 31st Dec 2022.
• Wish for happy, healthy and prosperous new year 2023 to all our cotton friends.
• This week of holidays passed with low volume and low volatility. NY March played between 82.52 to 85.79 in a small range. Ultimately NY March closed with 184 points weekly loss.
Gujcot FIrst Quarterly Rate Movement Report – 2022-23
• Team Gujcot wishes happy, healthy and earning new year 2023 to all our friends.
• Year 2022 taught us many lessons. We witnessed extremely high rates. NY cotton future near 158 cents per lb. and Indian physical cotton rate crossed Rs one lakh per candy. Some sweet and some bitter memories of year 2022. first quarter of the Indian new cotton season and second quarter of US new cotton season was dominated by bears.
Gujcot FIrst Quarterly Rate Movement Report – 2021-22
• Up trend in cotton prices during first quarter of new season has continued with cotton prices touching life time new high in Indian cotton. While in U.S. It is the second highest rate after 2011.
• Indian Mills earned well during first quarter with old crop CCI stock till October and new arrivals.
Market Movement from 02nd Jan 2023 to 07th Jan 2023.
• ICE cotton was closed on Monday due to new year. Market activity was slow.
• In India cotton future trade on MCX Exchange closed from 1st January-23, due to pending SEBI permission for new cotton contract. But it is heard from the trade sources that MCX contract will open soon.
Market Movement from 09th Jan 2023 to 14th Jan 2023.
• ICE Cotton March closed at 82.50 cents with weekly loss of 339 points.
• USDA weekly cotton export sales remained disappointing for the week ending 5th January. For the current marketing year, net sales of 75,900 bales and weekly export of 1,56,800 bales was reported. Pakistan recaptured the 2022-23 lead buyer position of US cotton, replacing China.
Market Movement from 16th Jan 2023 to 21st Jan 2023.
• NY Cotton futures traded higher for three of the four trading sessions during the shortened trading week. NY March gained 441 points during the week. NY March gained 331 points after US export sales on Friday.
• US Export Sales was decent with 2,12,000 bales of new commitment and very limited cancellation. China booked 55,100 bales which was considered a positive news by the market. US export shipment also was encouraging with 1,89,400 bales shipped during the week.
Market Movement from 23rd Jan 2023 to 28th Jan 2023.
• NY future traded in sideways this week. Better export sales has given some boost and intraday trade high on 88.88 but there was strong resistance on 88+. Farmers also fix some quantity on higher rate. Ultimately NY March settle near unchanged to last week just gain 19 points.
• U. S. Export Sales was decent with China back in the game also supported by Pakistan. Sales was 2,19,100 bales and shipment also better at 1,77,900 bales.
• Stock Market Strong in January • Export Sales Report Showed Encouraging Sales
March futures had a mixed week, remaining in the back-and-forth trading range that has been present the past few months. Overall, most commodities had a good start to the week, with cotton in particular finding support from China.
Market Movement from 30th Jan 2023 to 04th Feb 2023.
• NY March traded all week ups and down all alternate day but in small range of 85 to 87 cent. Better export sales support the price but ultimately close in red. NY March close with loss of 146 points W/W.
• Export sales was decent 1,70,000 bales for week. Shipment also improve to 2,20,000 bales.
Market Movement from 06th Feb 2023 to 11th Feb 2023.
• NY March opened this week with big loss but covered very next day. WASDE was bearish to neutral, bullish numbers of US export sales but week ended flat near to unchanged with minor loss of 16 points.
• USDA February WASDE reduced world carryover by 8,50,000 bales with reduction in production by 1.03 million bales and reduction in consumption by 1,90,000 bales. Report looks almost neutral.
Market Movement from 13th Feb 2023 to 18th Feb 2023.
• The cotton market fell sharply during this week due to rising fears of a recession, weak demand, and higher interest rates. Stronger U.S. dollar also contributed to the bearish sentiment.
• Cotton prices in New York dropped significantly this week, with the March contract settling at 85.27 on February 10th and 80.25 on February 17th with weekly decline of 5.02 cents. The March contract is due to enter delivery period next week.
Market Movement from 20th Feb 2023 to 25th Feb 2023.
• This week marked the beginning of the delivery period for NY March cotton contract, with the next future being NY May. This four day week was positive for May future with all four days closed in green. Especially last day with fantastic export sales numbers NY May closed with weekly gain of 340 points.
Market Movement from 27th Feb 2023 to 04th Mar 2023.
• The cotton market was mostly lower this week, with May future finishing down 0.73 cents. The market was driven by a weaker U.S. dollar and higher Dow Jones, hopes of improved foreign demand, and squaring and balancing by certain managed-money funds. A strong economic report from China also boosted the market. Thursday's export sales were decent, while Friday saw the cotton market showing resilience and finishing higher.
Market Movement from 06th Mar 2023 to 11th Mar 2023.
• Cotton prices experienced a sharp decline in the last week, with NY May futures dropping from 84.17 on 3rd March to 78.18 on 10th March, resulting in a significant week-on-week loss of 5.99 cents.
Market Movement from 13th Mar 2023 to 18th Mar 2023.
• Cotton prices continued their downward trend, with NY May closing at 77.83 on 17-March with weekly loss of 0.35 cents - a reflection of ongoing market volatility.
• Cotton prices experienced a volatile week, with significant price swings influenced by global banking system concerns and a series of economic data releases. On Monday, cotton prices closed sharply higher to limit up, in contrast to Friday's bearish trade, due to recovering Dow, weak U.S. dollar, and cash cotton liquidation.
Market Movement from 20th Mar 2023 to 25th Mar 2023.
• NY May prices experienced a weekly loss of 1.29 cents, dropping from 77.83 on 17-Mar to 76.54 on 24-Mar.
• Cotton prices were affected by the ups and downs of the stock market on Monday, with traders awaiting the Federal Reserve's interest rate announcement. A major research firm has released intentions for US row crops, and cotton acres for 2023 are predicted to be 79% of those of 2022.
