MCX cotton at 5-month low as output seen higher.

Futures contracts of cotton on the MCX hit a five-month low of 19,580 rupees per bale (1bale=170kg) due to expectations of higher output in 2017-18 (Oct-Sep). Cotton acreage in Gujarat, the largest producer, was at 496,400 ha, compared with 175,500 ha last year. On the MCX, the most active July cotton contract was at 19,800 rupees per bale, down 0.4% from the previous close.

European wheat futures hit a 10-day low as the easing of a heatwave, harvest advances.

European wheat futures hit a 10-day low as the easing of a heatwave in western Europe and a quick start to harvesting in France offset weather worries that had pushed prices to a near one-year high last week. December milling wheat, the most active position on Paris-based Euronext, was down 2.00 euros, or 1.1 percent, at 176.00 euros a tonne at the close, just off an earlier low of 175.50 euros. The European Union crop monitoring service lowered its 2017 yield forecast for EU soft wheat, citing hot, dry weather.