NCDX Cotton futures are expected to trade sideways to down

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NCDX Cotton futures are expected to trade sideways to down

As per MCX Crude Oil Operator Research Report. Mumbai

Cotton futures on MCX enclosed negative for the second consecutive session on Mon on reports smart progress of cotton in north Asian country. As per latest information from Agricultural Ministry, cotton is planted in twelve.18 large integer hectares (l ha) as on a pair of nd June, higher by twenty nine.7% compared to last year expanse of nine.40 l angular distance for same amount.
Outlook
Cotton futures area unit expected trade sideways to down on reports of fine sowing progress, steady physical demand, reports of upper stock levels and traditional monsoon forecast could pressurize costs. As per ICAC, Asian country is forecast to expand by seven-membered to eleven.3 million hectares, and presumptuous yield is analogous to the 4-year average of 528 kg/ha, production might increase by third to six mt in 2017/18.


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