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Cotton prices stable; haze over China's policy
The USDA's latest report featured an increase to global figures for 2014/15 beginning stocks (+336,000 bales, to 100.3 million) and production (+376,000 bales, to 118.0 million) as well as a decrease to the estimate for world consumption (-479,000 bales, to 112.1 million).
Cotton prices stable; haze over Chinas policy
Although December futures have been testing higher values, they have yet to break decisively above resistance near 68 cents/lb and were range-bound over the past month with values trading between 65 cents/lb and 68 cents/lb.
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