Cotton traded in range amid expectation of export demand on poor response to state reserve auction in China. The cotton arrivals are in full swing and gap of arrivals compared to last year has narrowed down. Market participants are expecting good stocks with the farmers and stockists which may hit the markets. The USDA will release its prospective crop plantings report on March 31. Weekly export sales data from the U.S. government showed net upland sales totaled 328,200 running bales for the previous week, up 4 % from the week before, but down 7 % from the prior 4-week average.

Trading Ideas: 

*Cotton trading range for the day is 21173-21453. 

* Cotton traded in range amid expectation of export demand on poor response to state reserve auction in China. 

*Cotton yarn exports to China may increase due to poor response to state reserve auction in China. 

*Cotton prices can see support on speculation of an El Nino at the beginning of the monsoon. 

*Cotton prices in spot market gained by 10.00 rupees and settled at 21090.00 rupees.

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