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Waning Demand Sends Prices for Cotton & Orange-Juice Down

June 26, 2014 at 1:52 by Vladimir Vyun

Cotton dropped today on speculations that rains in the United States will boost output. While experts believe that rainfall may damage some crops, it is expected that precipitation should be beneficial for the fiber plants. Traders are also concerned that the recent poor economic data from the USA suggests that recovery is faltering, and this means less demand for various goods including cloth. December futures for delivery of cotton sank 1.6 percent to $0.7526 per pound as of 1:51 GMT on ICE today.

Futures for orange juice had problems due to concerns about waning demand too. While supply from the USA is falling, specialists say that consumption is falling even faster. This creates a supply-demand balance that is unfavorable for the commodity. September contract for orange juice lost as much as 1.75 percent to $1.5140 per pound.

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