MCX cotton falls as 2017-18 output seen higher.

Futures contracts of cotton on the MCX fell due to expectations of higher output in 2017-18 (Oct-Sep). The US Department of Agriculture Foreign Agricultural Services has raised its forecast for India cotton production in 2017-18 to 37.2 million bales (1bale = 170 kg) from 35.9 million bales estimated in June. On the MCX, the most active July cotton contract was at 19,870 rupees per bale, down 0.9% from the previous close.