MCX cotton hits 3-month high as rains disrupt supply.

Futures contracts of cotton on the MCX hit a three-month high because of delay in arrivals of cotton after heavy rains in major growing states of Maharashtra, Telangana and Karnataka. Rising concerns over quality of the new crop of cotton due to rains is supporting prices. Marathwada and Vidarbha regions in Maharashtra, and Telangana have recorded large excess rains till last days.