According to Angel Commodities, expect MCX cotton futures to trade higher as cotton prices were primarily driven by low cotton supply in the local market and also getting supported by the news of purchase by the CCI.
ICE cotton futures recovers on Tuesday mainly on technical trading and reports of good demand from China. However, weaker export figures from the US capped some gains. As per USDA data, net upland sales of 183,700 RB for 2016/2017 were down 47 % from the previous week and 45% from the prior 4- week average.
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