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Commodities  |  October 31, 2012 17:22:28

Cotton prices slump continues



ColosseumThe December cotton contract today weakened by 1.1 percent to 70.14 U.S. cents per pound, which is the lowest price since the end of July. For commodity are unfavorable information about vysokom surplus in the market. Cotlook counseling agency increased the estimate tohotoročného overhang production over consumption by 16 percent. The reason is mainly significantly better crops in China and India. Agency expects that rate could reduce up to 65 cents.

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