Monday, October 7, 2013

Cotton Prices Crushed As Storm Weakens

via Reuters in Mumbai, India:
Oct 7 (Reuters) - Cotton futures in India, the world's second-largest grower, are expected to fall this week on hopes of higher output as rains lead to better yields and due to approaching supplies from the new season harvest amid sluggish exports.

by Reuters US:

* Dissipating Tropical Storm leaves cotton crops unscathed
* Fiber sinks to one-month low, extends losses on sell stops
* Global stocks slide as investors remain jittery over U.S. gov't shutdown
* USDA will not release World Agricultural Supply and Demand Estimates report on Friday
NEW YORK, Oct 7 (Reuters) - ICE cotton sank on Monday to post its biggest loss in over six weeks as the weakening of Tropical Storm Karen eased worry over crop damage in the United States, the world's top exporter, and as the U.S. government shutdown and budget impasse kept investors skittish.