Cotton on MCX settled down by -0.22% at 18340 tracking weakness in spot demand on higher output amid lower consumption. United States Department of Agriculture (USDA) data, forecast 2017-18 global cotton output to rise to 117.31 million bales compared to 115.3 million bales in the previous month. Meanwhile, USDA has also predicted United States cotton output to hike to 20.5 million bales against 19 million bales in July.

Trading Ideas:

* Cotton trading range for the day is 18060-18620.

* Cotton ended with losses tracking weakness in spot demand on higher output amid lower consumption.

* USDA forecast 2017-18 global cotton output to rise to 117.31 million bales compared to 115.3 million bales in the previous month.

* Cotton demand is predicted to fall to 24.50 million tons compared to 24.75 million from the previous estimates.

* Cotton prices in spot market dropped by 40.00 rupees and settled at 20490.00 rupees.

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