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11-May2018

Cotton futures edge lower on weak demand

Cotton futures edged lower on MCX due to weak demand from domestic mills at the spot market. Though, some losses were capped as US Department of Agriculture (USDA) showed a slight reduction to 2017/18 cotton production.

The contract for May delivery was trading at Rs 20620.00, down by 0.39% or Rs 80.00 from its previous closing of Rs 20700.00. The open interest of the contract stood at 8448 lots.

The contract for June delivery was trading at Rs 20900.00, down by 0.38% or Rs 80.00 from its previous closing of Rs 20980.00. The open interest of the contract stood at 1167 lots on MCX.


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