Cotton on MCX settled flat at 18470 on higher sowing amid weak demand. Prices also seen under pressure on hope of higher output due to increase in acreage this year. Area sown under cotton until Sep 22 was 12.17 million hectares compared to 10.25 million hectares a year ago, showed the Agriculture Ministry data. Gujarat, the largest producer of natural fibre completed sowing in 2.63 million hectares against 2.40 million hectares last year, showed the data by Directorate of Agriculture, Gujarat.

Trading Ideas:

# Cotton trading range for the day is 18110-18730.

# Cotton prices ended with flat node on higher sowing amid weak demand.

# Prices also seen under pressure on hope of higher output due to increase in acreage this year.

# Cotton has been sown on 121.72 lakh hectares, 2017 across the country compared to 102.56 lakh hectares during the same period previous year.

# Cotton prices in spot market dropped by 220.00 rupees and settled at 18740.00 rupees.

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