Symbol: COTTON| Contract: Oct, 2021| Category: Fiber
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Cotton's Latest News
Farmers plant crops such as rice, corn, cane, cotton and soybeans in the rainy months of June and July, with harvests from October.
Most Chinese firms scale back operations or close for long periods around the Lunar New Year holidays, which began on January 24 this year.
Rising exports from India could put pressure on global prices for cotton, which are trading near their highest in eight months.
India is likely to get below-average rainfall in the next two weeks with a large deficit in the soybean and cotton growing central and western regions.
Monsoon rainfall was 43 per cent lower than normal so far in June, but in some states, such as Maharashtra, the rainfall deficit was as high as 68 per cent, data compiled by the state-run India Meteorological Department (IMD) showed. Lower production of soybeans could force the country to raise imports of edible oils such as palm oil and soyoil, while a drop in cotton...
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