Market Movement from 18th Apr 2022 to 23rd Apr 2022.
• Market sentiment remained bearish during this week. Poor US export sales and shipment created some bearish sentiment. ICE May option expired so now front month is July contract. At the end of the week NY may closed with loss of 252 points while July closed with 486 points loss. July December inverse narrowed to 1669 points.
• Export sales was poor. After cancelation net sales was just 54,300 bales but for next marketing year sale was better at 1,41,000 bales. Shipment was 381,800 still lagging behind required pace.
