Cotton on MCX settled down by -0.96% at 20540 amid expectations of harvesting a bumper crop because of good seed sales and the early arrival of rains. The early arrival of monsoon rains has prompted many Indian cotton millers and traders to cancel or settle their import contracts, with expectations mounting that the South Asian nation would have a bumper crop of the textile fabric this year.

Trading Ideas:

* Cotton trading range for the day is 20353-20893.

* Cotton prices dropped amid expectations of harvesting a bumper crop because of good seed sales and the early arrival of rains.

* The early arrival of monsoon rains has prompted many Indian cotton millers and traders to cancel or settle their import contracts.

* According to the latest report of the USDA, 2017-18 cotton production is expected to increase because of a rise in the area under cultivation.

* Cotton prices in spot market gained by 60.00 rupees and settled at 20510.00 rupees.

For More Commodity Market Tips click here https://www.justdial.com/Indore/Ripples-Advisory.