By admin       2017-10-23

: Angel Commodities:According to Angel Commodities,Cotton futures are expected trade sideways to higher on reports of lower than expected crop size, cci procurement and improved exports demand for Indian cotton may support prices if recent rains trigger significant damage. Angel Commodities' report on Cotton MCX Cotton Oct futures closed lower last week after three consecutive weekly rise, on anticipation that the arrivals may increase in coming weeks. Recent rains in the cotton growing states pressurize prices as it may improve production in the country. The prices have picked up earlier as arrival of new crop slowing down after the October rains, prices had increased marginally. However, prices have now stabilised as the cotton now available has higher moisture content. The Cotton Corporation of India is set to open its procurement centres in major cotton - growing states as it is believed that the prices may decrease below the MSP during the peak arrival season. Outlook Cotton futures are expected trade sideways to higher on reports of lower than expected crop size, cci procurement and improved exports demand for Indian cotton may support prices if recent rains trigger significant damage. However, expectation of good production and carryover stocks may pressurize prices.

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