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24-May2018

Cotton futures trade lower on muted demand

Cotton futures traded lower on MCX due to muted demand from traders and stockists at the spot market. Though, some losses were capped on expectation of lower US cotton production in 2018 by USDA.

The contract for May delivery was trading at Rs 20900.00, down by 0.10% or Rs 20.00 from its previous closing of Rs 20920.00. The open interest of the contract stood at 2729 lots.

The contract for June delivery was trading at Rs 21200.00, down by 0.14% or Rs 30.00 from its previous closing of Rs 21230.00. The open interest of the contract stood at 6610 lots on MCX.


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