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Cotton extends slump to 21-month low as supplies expand

from Bloomberg

Cotton tumbled to a 21-month low, trimming costs for clothing retailers including Gap Inc., after the U.S. forecast rising inventories and as industrial output slowed in Asia. World stockpiles will climb 10 percent to 73.75 million bales in the season that starts Aug. 1, the U.S. Department of Agriculture said. more

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