Cotton on MCX settled down -0.1% at 19990 due to good progress in cotton sowing in the country. As per latest data from Agricultural Ministry, cotton is planted in 71.8 lakh hectares (l ha) till last week, higher by 5.8% compared to last year acreage of 68 lakh ha for same period. However, there is fear of decline in yield due to deficient rainfall in major growing areas. Moreover, expectation of good physical demand for cotton as GST on cotton is less than manmade fibers also supported prices.

Trading Ideas:

* Cotton trading range for the day is 19657-20397.

* Cotton prices ended with losses due to good progress in cotton sowing in the country.

* Cotton is planted in 71.8 lakh hectares (l ha) till last week, higher by 5.8% compared to last year acreage of 68 lakh ha for same period.

* US Department of Agriculture's Foreign Agricultural Services has raised its forecast for India's cotton production in 2017-18 to 37.2 mln bales.

* Cotton prices in spot market dropped by 140.00 rupees and settled at 20250.00 rupees.

Ripples Advisory >> For Indian Share Market Tips click here>> https://www.justdial.com/Indore/Ripples-Advisory.