Cotton on MCX settled up by 0.94% at 18350 due to crop damage from heavy rains in major growing areas of Gujarat. However, upside seen limited on carryover stocks and on anticipation of higher imports in 2017-18 crop season. Natural fibre prices were also under pressure on expectation of heavy rainfall in next four days in major cotton growing areas of central region, showed Indian Meteorological Department (IMD) data.

Trading Ideas:

* Cotton trading range for the day is 18090-18530.

* Cotton prices ended with gains due to crop damage from heavy rains in major growing areas of Gujarat.

* However upside seen limited on carryover stocks and on anticipation of higher imports in 2017-18 crop season.

* Cotton output is likely to increase to 345 lakh bales in 2016-17 as compared to the last year.

* Cotton prices in spot market dropped by 120.00 rupees and settled at 20330.00 rupees.

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