The June delivery contract opened at Rs 4,981 per quintal, slightly higher than close of Rs 4,855 for the February delivery and Rs 4,950 for the April 1999 delivery contract. In a trade of some six units (of 55 bales of 170 kg each), the June delivery contract touched the highest of Rs 5,001 only to close marginally lower at Rs 5,000 per quintal. Only two units were traded in the February delivery, while there were four in the April contracts. The February delivery contract, that was kicked off on December 5 1998, will come to an end on the due date of February 26, 1999. The February contract was almost static at Rs 4,855 per quintal, while the April delivery contract closed lower at Rs 4,950. The EICA has applied the FMC for itsclearance for the September delivery contract to be traded after the February delivery contract comes to a close this month. The June cotton futures, slightly higher than the other two contracts though reflecting some bullishness in an otherwise bearish cotton market takes care of small vyaj badla charges.