NORTH
Moderate to heavy rains were reported from many centers of Punjab and Haryana whereas it was partly cloudy in North Rajasthan without any rains. Market trend was steady in ready delivery whereas it was improved in forward delivery as sellers were fearing that further rains may delay and damage standing crop. Haryana J-34 RG. September, October and November delivery were quoted at Rs.2670/-, 2570/- and Rs. 2540/- per md. respectively.
GUJARAT
Good rains were reported in almost entire Gujarat whereas heavy rains were reported from main line. South Spinners were interested in ready cotton. Limited enquiries in November/December delivery S-6 were noticed around Rs. 24,500/-24,700/- per candy.
MAHARASHTRA
It was almost dry day in entire Maharastra with cloudy at a few centers. Prices were unchanged at previous levels whereas South Spinners made nominal purchases.
SNIPPETS:
US cotton future settled higher while futures gave back most of their limit up rally gains made on knee-jerk bullish reaction to USDA report.
USDA released its monthly
The upper air cyclonic circulation over northwest Madhya Pradesh and adjoining East Rajasthan extending upto mid-tropospheric levels persists. An off-shore trough runs from Maharashtra coast to Kerala coast. Under their combined influence, widespread rainfall with isolated heavy to very heavy falls is likely over East Rajasthan, Gujarat, Konkan & Goa, Coastal Karnataka and Kerala during next 48 hours and decrease thereafter.
The Current meteorological analysis and interpretation of numerical weather prediction models indicate further northwards shift of eastern end of monsoon trough. Under this scenario widespread rainfall activity with isolated heavy to very heavy falls is likely over northeastern States, Sub-Himalayan West Bengal & Sikkim, Bihar and East Uttar Pradesh during next 4-5 days....(K.C.T & ASSOCIATES- Abohar)
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