Gujcot Weekly Report
Posted : February 18, 2019

Market Movement from 04th Feb 2019 to 09th Feb 2019

 

  • Long awaited USDA WASDE Report was finally released after two months. As a backward revision in 2017-2018 USDA lowered world consumption by a net 588,000 bales effectively world's ending stock was increased by nearly two million Bales, otherwise it is neutral.

 

  • Indian production was lowered by 5 lakh bales but also 2017-2018 consumption was revise.

 

  • During this week NY future lost near about 150 points. Still there is no good  progress to resolve the trade dispute.

 

  • Indian physical market remained steady. Gujarat Shankar 6 Price remained in small range but Maharashtra facing more selling pressure.

 

  • Cumulative Indian arrivals crossed 2 crore bales and in absence of big export demand enough stock in the market, so mills are not in a hurry to build  inventory fast.

 

  • Gujarat 29 mm Cotton sold between 42,650 to 42,850 Rs./Candy.

 

  • All India Daily Arrivals remained between 1,50,000 to 1,60,000 bales.

 

  • Gujarat Daily Pressing was approximately 50,000 bales.

 

  • NY March futures w/w lost 1.09 cents.

 

  • Indian Rupee was strong against USD during this week from 71.80 to 71.30.          



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