*GUJCOT TRADE ASSOCIATION*
WEEKLY Report 15–AUG-2020
*Market Movement from 10th Aug 2020 to 15th Aug 2020*
• NY December future remained very volatile during the week, gave up first two days gain on Wednesday due to bearish WASDE. Ultimately NY December closed the week with very small weekly gain of 49 points.
• On Wednesday the USDA released both the August US Crop Estimate Report and World Agricultural Supply and Demand Estimates, both of which held significant surprises. In a shock to the analysts, none of them were as per their expectation, USDA published revised U.S. crop estimate at 18.08 million bales. Overall USDA increased Production, So, ending stock Increased by 4 million bales. Overall Effect of WASDE was bearish.
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