We Expect Cotton / Kapas Prices To Trade Sideways by Ripples Advisory Pvt Ltd

Cotton futures on MCX closed lower on Monday on anticipation of higher arrivals of cotton in physical market due to sufficient stocks available with the farmers and stockists. The cotton arrivals are in full swing and gap of arrivals compared to last year has narrowed down. South Indian Textile mills have started to import cotton from West Africa and the US as the landed costs are on par with the prevailing market price in the country.

ICE cotton futures closed lower on Monday following a slide in agricultural commodities, which saw U.S. wheat, corn and soybean futures touch their lowest this year. Moreover, as per CFTC data, speculators cut their net long position in cotton by 4,319 contracts to 109,050 in the week to March 21.

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