Moneycontrol
May 19, 2017 12:59 PM IST | Source: Moneycontrol.com

Cotton futures are expected to trade sideways: Angel Commodities

According to Angel Commodities, Cotton futures are expected trade sideways on steady physical demand, reports of higher stock levels, normal monsoon and anticipation of higher sowing acreage in the country may pressurize prices.

Cotton futures are expected to trade sideways: Angel Commodities

Angel Commodities' report on Cotton


Cotton futures on MCX traded under pressure tracking weak International prices. There are ample supplies this season through imports and good stocks available with the farmers. According to trade sources, India’s cotton imports have touched an all-time high of 30 lakh bales this season.


Outlook


Cotton futures are expected trade sideways on steady physical demand, reports of higher stock levels, normal monsoon and anticipation of higher sowing acreage in the country may pressurize prices. Moreover, lower exports prospects and higher imports keeping prices under pressure.


For all commodities report, click here


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