PAKISTAN COTTON MARKET UPDATEOfficial spot rate recovers slightlyThe Spot Rate Committee of the Karachi Cotton Association on Monday increased the spot rate by Rs 100 per maund and closed it at Rs 13200 per maund.The local cotton market remained stable and the volume remained satisfactory.The Spot Rate Committee of the Karachi Cotton Association on Monday increased the spot rate by Rs 100 per maund and closed it at Rs 13200 per maund. The Polyester Fiber was available at Rs 222 per kg.Cotton Analyst Naseem Usman told Business Recorder that the reason behind downward trend in the rate of cotton is rains in the cotton growing areas of Sindh and Punjab due which the supply of Phutti was effected. Second reason is the arrival of imported cotton and liquidity crunch.The rate of cotton in Sindh is in between Rs 12300 to Rs 13400 per maund and the rate of cotton in Punjab is in between Rs 13300 to Rs 13500 per maund.The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 5800 per 40 kg. The rate of Phutti in Punjab is in between Rs 5300 to Rs 5800 per 40 kg. The rate of Banola in Sindh is in between Rs 1450 to Rs 1800 per maund.The rate of Banola in Punjab is in between Rs 1650 to Rs 1800 per maund. The rate of cotton in Balochistan is in between Rs 13100- 13200 per maund. The rate of Phutti in Balochistan is Rs 6000- 6600 per maund.
ICE COTTON SUMMARYICE Cotton slips post WASDE production hikeICE cotton futures eased on Monday, pressured by a stronger dollar, as traders continued to assess a projected increase in output in the US Department of Agriculture’s (USDA) September supply and demand report.“The market is still digesting Friday’s report and today, the increase in production, up from August’ s surprise cut, is weighing, as the USDA made adjustments on planting numbers from earlier in the season,” Bailey Thomen, cotton risk management associate at StoneX Group said.In its September World Agricultural Supply and Demand Estimates (WASDE) report, the USDA projected US production at 18.5 million bales, 1.2 million bales higher than the previous month.The market will pay close attention to how production pans out until season-end, as well as adverse weather events and changes in the global consumption picture, especially for China, Thomen said.Tropical storm Nicholas, now about 140 miles (225 km) south of Port O’Connor in Texas with maximum wind speeds of 60 miles per hour, is forecast to reach the northwest Gulf coast as a hurricane. * The dollar index rose on Monday, making cotton more expensive for buyers holding other currencies.Total futures market volume fell by 19,680 to 13,022 lots. Data showed total open interest gained 289 to 273,007 contracts in the previous session.Market focus will also be on a weekly crop progress report from the USDA due later on Monday.
All India Weather Forecast for September 14, 2021Countrywide weather systemsA Deep Depression has formed over Northwest Bay of Bengal and adjoining Odisha coast and was near 20.5 degree north latitude and 86.9 east longitude at 5:30 pm today.It is very likely to move west-northwestwards from Odisha and Chhattisgarh towards Madhya Pradesh during next 48 hours. And tomorrow by September 14, weakening can turn into a depression. The low pressure area is now over South Gujarat region and the associated cyclonic circulation is extending up to 5.8 km above mean sea level and is moving towards southwest with elevation. A trough extends from a cyclonic circulation associated with a low pressure area over Gujarat to a deep depression over Odisha coast passing through Gujarat, Madhya Pradesh and Chhattisgarh.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Monsoon was vigorous over Odisha and Odisha received one or two heavy spells of rain with moderate to heavy rains. Active Monsoon conditions were observed over Gujarat and Konkan and Goa as these areas received light to moderate rains with some heavy to very heavy rains. Light to moderate rain occurred at isolated places over Kerala, Coastal Karnataka, South Interior Karnataka, South-East Madhya Pradesh, Vidarbha and Jammu and Kashmir and Himachal Pradesh. Light to moderate rain occurred over Chhattisgarh, Punjab, Haryana, Rajasthan, remaining parts of Madhya Pradesh, Bihar, Jharkhand, parts of Uttar Pradesh, Chhattisgarh, Gangetic West Bengal, Andaman and Nicobar Islands and Coastal Andhra Pradesh. Light rain occurred over western parts of Rajasthan, Uttarakhand, Delhi, Madhya Maharashtra, Marathwada, Telangana, Sub-Himalayan West Bengal, Sikkim, Northeast India and isolaसम्पूर्ण भारत का सितम्बर 14, 2021 का मौसम पूर्वानुमानदेश भर में बने मौसमी सिस्टमबंगाल की उत्तर पश्चिमी खाड़ी और उससे सटे ओडिशा तट पर डीप डिप्रेशन बन गया है और आज 5:30 बजे यह 20.5 डिग्री उत्तर अक्षांश और 86.9 पूर्व देशांतर के करीब था।अगले 48 घंटों के दौरान इसके पश्चिम उत्तर-पश्चिम दिशा में ओडिशा और छत्तीसगढ़ से मध्य प्रदेश की ओर बढ़ने की उम्मीद है। और कल 14 सितंबर तक कमजोर होकर डिप्रेशन में बदल सकता है। कम दबाव का क्षेत्र अब दक्षिण गुजरात क्षेत्र के ऊपर है और संबंधित चक्रवाती परिसंचरण औसत समुद्र तल से 5.8 किमी ऊपर तक फैला हुआ है और ऊंचाई के साथ दक्षिण-पश्चिम की ओर झुक रहा है। एक ट्रफ रेखा गुजरात के ऊपर कम दबाव के क्षेत्र से जुड़े चक्रवाती परिसंचरण से लेकर गुजरात, मध्य प्रदेश और छत्तीसगढ़ से गुजरते हुए ओडिशा तट पर गहरे दबाव से जुड़े चक्रवाती परिसंचरण तक फैली हुई है।पिछले 24 घंटों के दौरान देश भर में हुई मौसमी हलचलपिछले 24 घंटों के दौरान, ओडिशा में मॉनसून जोरदार था और ओडिशा में मध्यम से भारी बारिश के साथ एक या दो बार भारी बारिश हुई। गुजरात और कोंकण और गोवा में सक्रिय मॉनसून की स्थिति देखी गई क्योंकि इन क्षेत्रों में हल्की से मध्यम बारिश हुई और कुछ भारी से बहुत भारी बारिश हुई। केरल, तटीय कर्नाटक, दक्षिण आंतरिक कर्नाटक, दक्षिण-पूर्व मध्य प्रदेश, विदर्भ और जम्मू-कश्मीर और हिमाचल प्रदेश के अलग-अलग हिस्सों में हल्की से मध्यम बारिश के साथ कुछ स्थानों पर भारी बारिश हुई। छत्तीसगढ़ पंजाब, हरियाणा, राजस्थान, मध्य प्रदेश के शेष हिस्से, बिहार, झारखंड, उत्तर प्रदेश के कुछ हिस्सों, छत्तीसगढ़, गंगीय पश्चिम बंगाल, अंडमान और निकोबार द्वीप समूह और तटीय आंध्र प्रदेश में हल्की से मध्यम बारिश हुई। राजस्थान के पश्चिमी हिस्सों, उत्तराखंड, दिल्ली, मध्य महाराष्ट्र, मराठवाड़ा, तेलंगाना, उप-हिमालयी पश्चिम बंगाल, सिक्किम, पूर्वोत्तर भारत और तमिलनाडु और लक्षद्वीप के अलग-अलग हिस्सों में हल्की बारिश हुई।अगले 24 घंटों के दौरान मौसम की संभावित गतिविधिअगले 24 घंटों के दौरान, ओडिशा और पूर्वी गुजरात के कुछ हिस्सों में मध्यम से भारी बारिश के साथ एक दो स्थानों पर अति भारी बारिश की संभावना है छत्तीसगढ़, मध्य प्रदेश, सौराष्ट्र और कच्छ, दक्षिण-पूर्वी राजस्थान, अंडमान और निकोबार द्वीप समूह, अलग-अलग हिस्सों विदर्भ और कोंकण और गोवा के कुछ हिस्सों में हल्की से मध्यम बारिश के साथ एक दो स्थानों पर भारी बारिश हो सकती है। पश्चिम बंगाल, झारखंड के कुछ हिस्सों, बिहार, हरियाणा, हिमाचल प्रदेश, उत्तराखंड, जम्मू-कश्मीर, तटीय कर्नाटक, केरल, मराठवाड़ा, पूर्वी राजस्थान और उत्तर प्रदेश के कुछ हिस्सों में हल्की से मध्यम बारिश हो सकती है। पंजाब, दिल्ली, पूर्वोत्तर भारत, तेलंगाना के सिक्किम भागों, आंध्र प्रदेश, लक्षद्वीप और तमिलनाडु के अलग-अलग हिस्सों और आंतरिक कर्नाटक में हल्की बारिश हो सकती है।All India Weather Forecast for September 14, 2021Countrywide weather systemsA Deep Depression has formed over Northwest Bay of Bengal and adjoining Odisha coast and was near 20.5 degree north latitude and 86.9 east longitude at 5:30 pm today.It is very likely to move west-northwestwards from Odisha and Chhattisgarh towards Madhya Pradesh during next 48 hours. And tomorrow by September 14, weakening can turn into a depression. The low pressure area is now over South Gujarat region and the associated cyclonic circulation is extending up to 5.8 km above mean sea level and is moving towards southwest with elevation. A trough extends from a cyclonic circulation associated with a low pressure area over Gujarat to a deep depression over Odisha coast passing through Gujarat, Madhya Pradesh and Chhattisgarh.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Monsoon was vigorous over Odisha and Odisha received one or two heavy spells of rain with moderate to heavy rains. Active Monsoon conditions were observed over Gujarat and Konkan and Goa as these areas received light to moderate rains with some heavy to very heavy rains. Light to moderate rain occurred at isolated places over Kerala, Coastal Karnataka, South Interior Karnataka, South-East Madhya Pradesh, Vidarbha and Jammu and Kashmir and Himachal Pradesh. Light to moderate rain occurred over Chhattisgarh, Punjab, Haryana, Rajasthan, remaining parts of Madhya Pradesh, Bihar, Jharkhand, parts of Uttar Pradesh, Chhattisgarh, Gangetic West Bengal, Andaman and Nicobar Islands and Coastal Andhra Pradesh. Light rain occurred over western parts of Rajasthan, Uttarakhand, Delhi, Madhya Maharashtra, Marathwada, Telangana, Sub-Himalayan West Bengal, Sikkim, Northeast India and isolated parts of Tamil Nadu and Lakshadweep.Possible weather activity during next 24 hoursDuring the next 24 hours, very heavy to very heavy rain with isolated heavy falls very likely over parts of Odisha and East Gujarat Chhattisgarh, Madhya Pradesh, Saurashtra and Kutch, South-East Rajasthan, Andaman and Nicobar Islands, Light to moderate rain with isolated heavy falls at isolated parts of Vidarbha and Konkan and Goa may occur at one or two places. Light to moderate rain may occur over West Bengal, parts of Jharkhand, Bihar, Haryana, Himachal Pradesh, Uttarakhand, Jammu and Kashmir, Coastal Karnataka, Kerala, Marathwada, East Rajasthan and parts of Uttar Pradesh. Light rain is possible over Punjab, Delhi, Northeast India, Sikkim parts of Telangana, isolated parts of Andhra Pradesh, Lakshadweep and Tamil Nadu and Interior Karnataka.ted parts of Tamil Nadu and Lakshadweep.Possible weather activity during next 24 hoursDuring the next 24 hours, very heavy to very heavy rain with isolated heavy falls very likely over parts of Odisha and East Gujarat Chhattisgarh, Madhya Pradesh, Saurashtra and Kutch, South-East Rajasthan, Andaman and Nicobar Islands, Light to moderate rain with isolated heavy falls at isolated parts of Vidarbha and Konkan and Goa may occur at one or two places. Light to moderate rain may occur over West Bengal, parts of Jharkhand, Bihar, Haryana, Himachal Pradesh, Uttarakhand, Jammu and Kashmir, Coastal Karnataka, Kerala, Marathwada, East Rajasthan and parts of Uttar Pradesh. Light rain is possible over Punjab, Delhi, Northeast India, Sikkim parts of Telangana, isolated parts of Andhra Pradesh, Lakshadweep and Tamil Nadu and Interior Karnataka.
Today evening, the rupee depreciated by 17 paise to close at Rs 73.67 against the dollar.Sensex fell, closed down 127 pointsToday the stock market closed with a fall. Today, where the Sensex closed at a level of 58177.76 points down by about 127.31 points. On the other hand, the Nifty closed at 17355.30 with a gain of 14.00 points.
WEATHER UPDATEThe depression over the Bay of Bengal will now further intensify into a deep low pressure. Heavy rain expected in many districts of Madhya Pradesh, Chhattisgarh, Rajasthan, Gujarat, Maharashtra.
Rupee depreciates against dollar, loses 13 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 13 paise at Rs 73.63 against the dollar. At the same time, on Thursday, the rupee strengthened by 10 paise to close at Rs 73.50 against the dollar.Sensex falls, breaks 160 points openToday the stock market opened with a fall. Today the BSE Sensex fell by about 160.19 points and opened at the level of 58144.88 points. On the other hand, the Nifty of NSE opened at the level of 17319.20 points with a fall of 50.10 points.
All India Weather Forecast for September 13, 2021Countrywide weather systems The Monsoon Trough is passing through the depression center over Jaisalmer, East Rajasthan and passing through a low pressure area over Bay of Bengal to Satna, Ambikapur, Balasore and then southeastwards. A trough is extending from Northeast Arabian Sea across Gujarat to East Central Bay of Bengal.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Andaman & Nicobar Islands, Odisha, parts of Gangetic West Bengal, isolated parts of Chhattisgarh, parts of Vidarbha, Madhya Maharashtra, Rajasthan, Madhya Pradesh, Delhi NCR, West Uttar Pradesh, Himachal Pradesh and Light to moderate rain occurred in some parts of Haryana with heavy rainfall at a few places. . Light to moderate rain occurred over Uttarakhand, Jammu and Kashmir, Ladakh, Coastal Karnataka, Konkan and Goa, Gujarat, Bihar, Jharkhand, Sub-Himalayan West Bengal and Sikkim.Light rain occurred at isolated places over Northeast India, Coastal Andhra Pradesh, Kerala and Tamil Nadu and Interior Karnataka.Possible weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain is very likely at isolated places over East Gujarat, adjoining parts of South Rajasthan, Odisha, Chhattisgarh, Telangana, Vidarbha and Madhya Pradesh.Light to moderate rains are possible over Konkan & Goa, Coastal Karnataka and Kerala. Light to moderate rain is possible over Jammu and Kashmir, Himachal Pradesh, Uttarakhand, Delhi, Haryana, West Rajasthan, Saurashtra and Kutch, Bihar, Jharkhand, West Bengal, Northeast India, Andaman and Nicobar Islands and Marathwada.Light rain is possible over Lakshadweep, Interior Karnataka, Rayalaseema and Tamil Nadu.
Kharif: Dry weather seen dragging down cotton, groundnut outputProduction of cotton and groundnut in the current kharif season is set to drop as dry weather in the first three months of the June-September monsoon season has dragged down sowing of these crops in Gujarat, the largest producing state, while lower acreages in other states has dimmed the chances of an overall recovery.However, it might not be as bad as in kharif 2018-19, when output of cotton and groundnut had declined 15% and 29%, respectively, on-year, analysts said. Assuming the current pan-India groundnut sowing area at about 49 lakh hectare as final acreage and average yield of last season’s 1.7 tonne/hectare, the production may be about 83.3 lakh tonne in this kharif, 3% down from previous season. Of 102.1 lakh tonne of groundnut produced in 2020-21 crop year (July-June), the kharif crop had about 84% share while the remaining harvest was from rabi season. likely to release the first advance estimate of kharif crops output for 2021-22 in the third week of this month.Apart from Gujarat, groundnut acreage in other major producers like Andhra Pradesh, Rajasthan and Karnataka has also dropped from last-year’s area. Similarly, sowing area under cotton is also down (y-o-y) in Maharashtra, Telangana, Andhra Pradesh, Rajasthan, Madhya Pradesh, Karnataka and Haryana.The acreage of cotton in Gujarat has declined 1.3% to 22.5 lakh hectare and that of groundnut by 7.7% to 19.1 lakh hectare as on September 10 from their year-ago levels, official data of Gujarat show. Kharif sowing is almost over and there is little chance of improvement as per data received from all districts in the past few weeks, according to an official of the state government.The rainfall deficit in Gujarat was 50% during June-August and each month also had below normal precipitation. Some improvements were noticed in first week of September which had 98% above normal rains. The irrigated area under groundnut is only 12% and for cotton 59% in the state.“The production will definitely be lower as yield may be affected due to poor rainfall continuously for three months. However, a possible larger damage has been contained with the recent rains,” an agriculture scientist said, requesting anonymity as he did not want to be seen challenging the state government’s production estimates.“The cottonseed prices are very high even as the crop is going to arrive in less than a month. This may be either due to a robust demand or expectation of a decline in crop,” said Bavish Patel, a trader of Rajkot. There has been a shift from groundnut to soyabean after the latter’s prices exponentially increased this year, Patel said.Soyabean prices in many places in Madhya Pradesh and Maharashtra have crossed Rs 10,000/quintal this year, which is a record. This compares with all India average of Rs 3,904/quintal, marginally above minimum support price (MSP) of Rs 3,880, during key harvesting period October-December 2020.“Amid an expected lower than normal soyabean crop output for third consecutive year, the fall in groundnut production will be a temporary setback for the government’s oilseed mission. There may be several measures including import duty cut and stock holding limits to keep domestic prices from further increase,” said a former agriculture commissioner. If cotton prices go up due to fall in production, it may help increase sowing area next year and motivate paddy farmers for diversification, he added.
PAKISTAN COTTON MARKET UPDATESpot rate loses more Rs300 amid hectic tradingThe Spot Rate Committee of the Karachi Cotton Association on Friday decreased the spot rate by Rs 300 per maund and closed it at Rs 13200 per maund.The Spot Rate Committee of the Karachi Cotton Association on Friday decreased the spot rate by Rs 300 per maund and closed it at Rs 13200 per maund. The Polyester Fibre was available at Rs 222 per kg.The local cotton market remained bearish and the volume remained satisfactory. Cotton Analyst Naseem Usman Business Recorder that the reason behind downward trend in the rate of cotton is rains in the cotton growing areas of Sindh and Punjab due which the supply of Phutti was effected. Second reason is the arrival of imported Phutti and liquidity crunch.The rate of cotton in Sindh is in between Rs 12000 to Rs 13000 per maund and the rate of cotton in Punjab is in between Rs 13000 to Rs 13300 per maund.The rate of the new crop of Phutti in Sindh was in between Rs 5000 to Rs 5700 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5400 to Rs 5800 per 40 Kg. The rate of Banola in Sindh is in between Rs 1550 to Rs 1650 per maund. The rate of Banola in Punjab is in between Rs 1600 to Rs 1700 per maund. The rate of cotton in Balochistan is in between Rs 12900- 13000 per maund. The rate of Phutti in Balochistan is Rs 6000- 6700 per maund.
U.S. EXPORT SALES FOR WEEK ENDING 02/09/2021Soybean Cake and Meal: Net sales of 60,700 MT for 2020/2021 were up noticeably from the previous week, but down 9 percent from the prior 4-week average. Increases primarily for Mexico (24,100 MT, including decreases of 200 MT), Malaysia (8,500 MT), Canada (6,100 MT, including decreases of 200 MT), Taiwan (5,800 MT), and the Philippines (5,200 MT), were offset by reductions primarily for unknown destinations (8,300 MT). For 2021/2022, net sales of 48,300 MT primarily for Japan (20,500 MT), the Dominican Republic (15,000 MT), Canada (9,100 MT), Colombia (8,600 MT), and Jamaica (8,000 MT), were offset by reductions primarily for unknown destinations (19,000 MT). Exports of 44,300 MT were down 77 percent from the previous week and 80 percent from the prior 4-week average. The destinations were primarily to Canada (16,700 MT), Mexico (13,100 MT), Guyana (4,200 MT), Venezuela (3,100 MT), and Burma (2,400 MT). Soybean Oil: Total net sales reductions for 2020/2021 of 1,600 MT, down noticeably from the previous week and from the prior 4-week average, were for Canada (including decreases of 1,800 MT). Total net sales for 2021/2022 of 100 MT were for Canada. Exports of 400 MT were down 91 percent from the previous week and 73 percent from the prior 4-week average. The destination was primarily to Canada (300 MT).
U.S. EXPORT SALES FOR WEEK ENDING 02/09/2021Soybeans: Net sales for the 2021/2022 marketing year, which began September 1, totaled 1,471,900 MT. Increases were primarily for China (764,000 MT), unknown destinations (453,600 MT), Mexico (79,100 MT, including decreases of 400 MT), Turkey (55,000 MT), and Egypt (55,000 MT). A total of 1,805,800 MT in sales were carried over from the 2020/2021 marketing year, which ended August 31. Exports for the period ending August 31 of 283,100 MT brought accumulated exports to 60,570,500 MT, up 35 percent from the prior year’s total of 44,934,500 MT. The primary destinations were Germany (152,200 MT), Japan (58,100 MT), Mexico (42,700 MT), Indonesia (9,200 MT), and Taiwan (8,100 MT). Exports for September 1-2 totaled 13,800 MT, with Mexico (10,500 MT), Malaysia (2,200 MT), the Philippines (600 MT), Japan (300 MT), and Indonesia (200 MT) being the destinations.Export for Own Account: For 2021/2022, new exports for own account totaling 5,800 MT were carried over from the 2020/2021 marketing year, which ended August 31. The current exports for own account outstanding balance is 5,800 MT, all Canada.Export Adjustments: Accumulated export of soybeans to the Netherlands were adjusted down 65,966 MT for week ending August 19th, and 86,200 MT for week ending August 26th. The correct destination for these shipments is Germany.
U.S. EXPORT SALES FOR WEEK ENDING 02/09/2021Cotton: Net sales of 453,000 RB for 2021/2022 primarily for China (261,500 RB, including decreases of 100 RB), Pakistan (36,500 RB), Indonesia (30,500 RB, including decreases of 100 RB), Guatemala (28,400 RB), and Turkey (25,400 RB, including decreases of 300 RB), were offset by reductions for Japan (1,100 RB) and Bangladesh (200 RB). Total net sales for 2022/2023 of 19,500 RB were for Guatemala. Exports of 155,300 RB were primarily to Vietnam (48,600 RB), China (29,100 RB), Pakistan (16,600 RB), Mexico (16,000 RB), and Turkey (14,300 RB). Net sales of Pima totaling 12,100 RB were primarily for India (5,500 RB, including decreases of 100 RB), Austria (2,600 RB), Honduras (2,200 RB), Pakistan (900 RB) and South Korea (700 RB). Exports of 12,000 RB were primarily to India (7,700 RB), Pakistan (2,200 RB), China (1,000 RB), Peru (400 RB), and Thailand (400 RB). Optional Origin Sales: For 2021/2022, the current outstanding balance of 8,800 RB is for Pakistan. Exports for Own Account: For 2021/2022, the current exports for own account outstanding balance of 4,800 RB is for China (4,700 RB) and Vietnam (100 RB).
pakistan cotton market updateThere is no respite from the declining trend in the cotton marketThe Spot Rate Committee of Karachi Cotton Association on Thursday reduced the spot rate by Rs 200 per mind and closed it at Rs 13,500 per mind.Polyester fiber was available at Rs 222 per kg.The local cotton market remained on a downtrend and the business was satisfactory.Cotton analyst Naseem Usman Business Recorder said the fall in cotton rates was mainly due to rains in the cotton growing regions of Sindh and Punjab, affecting the supply of ftti. The second reason is the arrival of imported footwear and lack of liquidity.The price of cotton in Sindh is between Rs.12200 to Rs.13200 per mand and the price of cotton in Punjab is between Rs.13000 to Rs.13300 per mind.The price of new foot crop in Sindh ranged from Rs 5200 to Rs 5700 per 40 kg. The price of ftti in Punjab is between Rs 5200 and Rs 5700 per 40 kg.Banola price in Sindh is between Rs 1550 to Rs 1700 per mind. Banola price in Punjab is between Rs 1600 to Rs 1700 per mind. Cotton price in Balochistan is Rs.13200 per mand. The rate of foot in Balochistan is Rs 6100-6700 per mind.
ICE cotton dips as traders await USDA reportsICE cotton futures eased on Thursday ahead of a monthly supply and demand report, with some traders expecting the United States Department of Agriculture (USDA) to raise its estimate for US supply in the report.The USDA’s keenly awaited World Agriculture Supply and Demand Estimate (WASDE) report is due on Friday.Peter Egli, director of risk management at British merchant Plexus Cotton, said the USDA could raise its estimate for US output as current conditions pointed to a good crop.“Supplies are tight now and shipments are being delayed in a lot of places, but supply is going to start to stream in about one to two months and then we will see how quickly we can satisfy demand,” Egli said.The USDA’s weekly crop progress report on Tuesday showed 61% of the cotton crop was in a good-to-excellent condition in the week ended Sept. 5. That was down from 70% in the prior week, but still well above the 44% for the same period a year ago.Market participants were also looking ahead to the USDA’s weekly export sales report on Friday. The report was delayed due to the Labor Day holiday.“The global economy is weakening and we have to see what that means for demand going forward,” Egli said. He added that Tropical Depression Mindy - which could bring rain to South Carolina and Georgia - was unlikely to have a major impact on supply.Certificated cotton stocks deliverable as of Sept. 8 totaled 64,455 480-lb bales, down from 68,502 in the previous session.
All India Weather Forecast for September 10, 2021Countrywide weather systemsThe Low Pressure Area lies over Central parts of West Madhya Pradesh and adjoining East Rajasthan. The associated cyclonic circulation extends up to 7.6 km above mean sea level.Weather movement across the country during the last 24 hoursLight to moderate rain occurred over South and Southeast Rajasthan, remaining parts of Madhya Pradesh, Coastal Karnataka, parts of Kerala, parts of Odisha, Himachal Pradesh, Uttarakhand and Coastal Andhra Pradesh.Light rain occurred over Delhi, remaining parts of Madhya Pradesh, West Uttar Pradesh, Telangana, Interior Karnataka and South Kerala.Possible weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain with one or two parts of Telangana may occur at isolated places over Andaman and Nicobar Islands, Gujarat, Southeast Rajasthan, Madhya Pradesh, parts of Chhattisgarh, parts of Odisha and Telangana. Is. Light to moderate rain with one or two heavy spells is possible over Coastal Karnataka, Uttarakhand, Himachal Pradesh and East Rajasthan. Light to moderate rain is possible over Jammu and Kashmir, West Bengal, Northeast India, Sikkim, parts of Uttar Pradesh, Interior Odisha, Delhi, Punjab and Haryana. Isolated light rain is possible over Telangana, Interior Karnataka, Kerala and Tamil Nadu and Lakshadweep.
*Cotton woven yarn prices in India & China to rise this winter**Prices of China’s 32/1 combed cotton yarn and India’s 30/1 combed cotton yarn are expected to rise during the peak season for textiles and clothing as the demand for winter clothing is expected to increase in the coming months. The demand for new cotton is also expected to move up in China and will likely be procured immediately by the country’s spinners.**The rising demand from western countries will also strengthen the price of the cotton yarn.**The 32/1 combed cotton yarn price went up from 24.26 CNY/kg in January 2021 to 26.57 CNY/kg in June 2021. It further increased by 6.89 per cent to 28.40 CNY/kg in August 2021.**The price is expected to touch 30.04 CNY/kg in November 2021, recording a rise of 5.77 per cent.**The price of 30/1 combed cotton yarn was ₹254.81 per kg in January 2021, which increased by 4.62 per cent to ₹266.59 per kg in June 2021. It further grew by 4.13 per cent to reach ₹277.59 per kg in August 2021. The price is now likely to record a 3.71 per cent increase to reach ₹287.89 per kg in November 2021.*
| title | Created At | Action |
|---|---|---|
| PAKISTAN COTTON MARKET UPDATE | 14-09-2021 18:27:32 | view |
| ICE COTTON SUMMARY | 14-09-2021 18:26:55 | view |
| All India Weather Forecast for September 14, 2021 | 14-09-2021 18:26:16 | view |
| Today evening, the rupee depreciated by 17 paise to close at Rs 73.67 against the dollar. | 14-09-2021 00:13:02 | view |
| The depression over the Bay of Bengal will now further intensify into a deep low pressure. | 13-09-2021 18:44:35 | view |
| Rupee depreciates against dollar, loses 13 paise | 13-09-2021 17:56:26 | view |
| All India Weather Forecast for September 13, 2021 | 13-09-2021 17:37:11 | view |
| Kharif: Dry weather seen dragging down cotton, groundnut output | 11-09-2021 17:58:38 | view |
| PAKISTAN COTTON MARKET UPDATE | 11-09-2021 17:52:12 | view |
| U.S. EXPORT SALES FOR WEEK ENDING 02/09/2021 | 11-09-2021 01:10:31 | view |
| U.S. EXPORT SALES FOR WEEK ENDING 02/09/2021 | 11-09-2021 01:09:57 | view |
| U.S. EXPORT SALES FOR WEEK ENDING 02/09/2021 | 11-09-2021 01:09:11 | view |
| pakistan cotton market update | 10-09-2021 18:05:03 | view |
| ICE cotton dips as traders await USDA reports | 10-09-2021 18:04:08 | view |
| All India Weather Forecast for September 10, 2021 | 10-09-2021 18:03:04 | view |
| *Cotton woven yarn prices in India & China to rise this winter* | 09-09-2021 20:57:11 | view |
