Month: May 2017

COTTONGURU™ Daily Report

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  1. Arrivals on 29/05/17 is about 0.36 lakh bales.
  2. Market: Steady
  3. Cotton Association of India has released its April estimate of the cotton crop for the 2016-17 crop year beginning form 1st October 2016. The CAI has retained its April estimate of the cotton crop for the 2016-17 crop year at 340.50 lakh bales of 170 kgs. each i.e. at the same level as in the last month.

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COTTONGURU™ Daily Report

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  1. Arrivals on 26/05/17 is about 0.41 lakh bales.
  2. Market: Steady
  3. Cotton body ups ’17-’18 global output estimate, demand forecast unch
  4. UK-based Cotton Outlook has raised its forecast for global cotton output in 2017-18 (Aug-Jul) to 24.49 mln tn from 24.40 mln tn projected in April, the agency said in its monthly report today.
  5. Speculators cut a bullish bet in cotton
    *Speculators cut a bullish bet in cotton by 8,532 contracts to 97,141 contracts in the week ended May 23, U.S. Commodity Futures Trading Commission data showed on Friday.

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COTTONGURU™ Daily Report

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  1. Arrivals on 25/05/17 is about 0.41 lakh bales.
  2. Market: Steady
  3. USDA announces special import quota for upland cotton effective June 1: United States Department of Agriculture (USDA) announces special import quota #5 for upland cotton; which will be established on June 1, allowing importation of 13,588,518 kilograms (62,411 bales) of upland cotton
  4. New York cotton little changed on lower-than-expected export cancellations…
  5. US Cotton futures have already settled back from recent highs, and analysts say that increased plantings this year are likely to keep downward pressure on prices
  6. COTTON: HOPES OF BETTER SALES TO CHINA MAY PROVIDE UNDERLYING SUPPORT :- A general acceptance of a better trade environment between China and the US could mean increasing cotton imports from the US. This is a longer-term positive force. The short-term trend remains down but the market managed a bounce yesterday ahead of the USDA weekly export sales report.

For more brief reports of cotton market and Buy Sell Options, download COTTONGURU™ App: https://play.google.com/store/apps/details?id=com.websqour.cottonguru

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COTTONGURU™ Daily Report

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  1. Arrivals on 22/05/17 is about 0.45 lakh bales.
  2. Market: Steady
  3. Planting Updates: By the week ending May 21, about 52% U.S. cotton crops have been planted, up 19% from last week and 7% from a year ago, down 2% from five-year average, according to USDA.*Weekend storms reported from W Texas to Southeastern US.

    *Planting complete in Kazakhstan

    *Pakistan: cotton planting around 70 percent complete

    *India: Cotton Sowing In Haryana Reached 60% & Punjab 50% As On 16 May. Maharashtra Khandesh Some Area Sowing Started.

  4. China State Reserve sold 59.26 percent at 8,900 tons out of the total quantity at 14,960 tons of cotton reserved in the first session of its auction on May 23.

For more brief reports of cotton market and Buy Sell Options, download COTTONGURU™ App: https://play.google.com/store/apps/details?id=com.websqour.cottonguru

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COTTONGURU™ Daily Report

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  1. Arrivals on 18/05/17 is about 0.48 lakh bales.
  2. Market: Bearish
  3. Rupee is likely to open weak around 64.3500 levels on sharp fall in global equities and possible negative sentiments in domestic equities. However, sharp losses in the currency unit may be limited as inflows into the domestic financial markets continued. Also, a broad weakness in the Dollar against most major currencies could also help the Indian currency pare losses.
  4. Cotton futures were mixed on Wednesday, as July and October both showed losses. Back months were higher on a weaker US dollar. The US dollar index was 676 points lower on the day, as it is now down below pre-election levels. The AWP (average world price) through Thursday is 68.69 cents/lb, it will be updated tomorrow.

For more brief reports of cotton market and Buy Sell Options,
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COTTONGURU™ Daily Report

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  1. Arrivals on 17/05/17 is about 0.47 lakh bales.
  2. Market: Bullish
  3. Pakistan Govt Imposes 4% Custom Duty And 5% Sales Tax On Cotton Imports Effective From 15 July, In Order To Boost Domestic Cotton Sales For 2017/18
  4. Cotton yarn prices could stay competitive on China’s domestic market, by contrast with yarn import prices which are expected rising after cotton prices have surged on the international market.
  5. India:Central govt to provide 4 lakhs of solar power looms for Manipur weavers
    *Govt urged to take action against illegal Indian fabric imports

    *India:Polyester intermediate and fiber prices have further declined in India in May, in line with the market trends observed in other Asian countries. Demand remains depressed for textured yarns due to a slowing down production of man-made fiber apparel

For more brief reports of cotton market and Buy Sell Options,
download COTTONGURU™ App: https://play.google.com/store/apps/details?id=com.websqour.cottonguru

For detailed reports on global cotton markets, subscribe to COTTONGURU™  Fortnightly Newsletter on http://www.cottonguru.org