Cotton on MCX settled up by 1.61% at 20830 on lower production estimates for 2016-17due to weak sowing in the country. Weak sowing activity has resulted in lower output estimates. Weak rains in Gujarat, Telangana and Andhra Pradesh hit India's cotton acreage which fell by 11.27% to 10.22 million hectare until Sep 16.

 India's cotton output for 2016-17 is expected to fall by 2% on delayed arrival of monsoon rains in the country, US department of agriculture (USDA) said in its World Agricultural Supply and Demand Estimates (WASDE) report. India's fibre output for 2016-17 estimated at 26.50 million bales (1 bale = 480lb) as compared to previous month's forecast of 27 million bales.

                                       Technically market is under fresh buying as market has witnessed gain in open interest by 2.59% to settled at 3759 while prices up 330 rupee, now Cotton is getting support at 20656 and below same could see a test of 20483 level, And resistance is now likely to be seen at 20936, a move above could see prices testing 21043.

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