*Market Movement from 07th Feb 2022 to 12th Feb 2022.*
• After 9 consecutive green weekly close, this week NY future closed in red. But new crop December gained and narrowed the inverted spread. WASDE report was slight bullish and US export sales was also near to last week but at higher rate market resisted. NY March closed with weekly loss of 146 points. NY March First notice day is 17th March then onwards May will be front month. NY May is nearly 237 points lower than NY March contract.
• In February WASDE USDA reduced US export by 2,50,000 bales so US ending stock rose by 3 lakh bales. Indian crop reduced by 5 lakh bales and consumption raised by 2 lakh bales. Overall world ending stock reduced by nearly 7 lakh bales.
