NORTH
It was partly cloudy but without any rains. Ready Cotton prices were steady whereas in forward deliveries demand was noticed from local as well as upcountry buyers. Sellers were not offering at present rate. Haryana J-34 RG. October and November delivery were quoted at Rs.2565/- and Rs. 2540/- per md. respectively. Crop is progressing well under ideal conditions.
GUJARAT
Light/Good rains were reported from most of Gujarat except North Gujarat where it was either cloudy or light rains. Prices were unchanged at their previous levels. Good demand from South Spinners was noticed.
MAHARASHTRA
Light rains and showers were reported at many centers of Vidharbha whereas it was cloudy in Khandesh and Marathwada. Prices were almost unchanged.
SNIPPETS:
1. US Cotton future posted losses as position squaring ahead of USDA world cotton demand and supply report pulled future below support levels in late trade.
2.Rains and thunderstrom are damaging cotton crop in many areas of China.
3.Beneficial rains have been reported at many cotton growing centers of US.
4. Morning’s low pressure area over East Madhya Pradesh and neighbourhood persists. Under its influence, widespread rainfall with isolated heavy to very heavy falls is likely over Madhya Pradesh during next 24 hours and over Madhya Maharashtra, Konkan & Goa, Gujarat and Rajasthan during next 2-3 days.
The axis of monsoon trough at sea level passes through Phalodi, Jaipur, Umaria, Ambikapur, Midnapore and thence southeastwards to eastcentral Bay of Bengal.
Current meteorological analysis and numerical weather prediction models suggests widespread rainfall over northeastern States and adjoining east India with isolated heavy to very heavy falls during next 3-4 days. ... (K.C.T & ASSOCIATES, Abohar)
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