Cotton futures eased to a nine-month low on Monday as building harvest pressure and concerns over excess inventories weighed. The most-active December cotton contract on ICE Futures US edged down 0.43 cent, or 0.5 percent, to settle at 78.65 cents a lb. Prices touched as low as 78.52 cents, the weakest level for the spot contract since January. Fibre performed in line with broader commodities markets, with the Thomson Reuters/Core Commodity CRB index down on the day. Harvests have begun in key p
The Asian naphtha margin was stable at $118.48 a tonne on Monday after hitting a five-week high in the previous session, supported by North Asian demand and tighter supplies. The gasoline margin fell to $2.68 a barrel, however, after briefly rising above $3 a barrel on Friday for the first time in about a week. South Korea's YNCC was heard to have bought about 75,000 tonnes of naphtha for second-half December delivery at premiums of about $8 a tonne to Japan quotes on a cost-and-freight (CandF)
Cotton futures fell for a fifth straight session to nine-month lows on Thursday as funds and speculative investors sold their bullish bets after weak US export sales reinforced fears about waning demand. The relentless selling left fibre the worst performing commodity out of 19 tracked by the Thomson Reuters/CoreCommodity CRB index and wiped out most of the market's gains made so far this year. "It's mostly fund selling," said Jobe Moss, a broker with MCM Inc in Lubbock, Texas. "When we broke th
