Cotton on MCX settled down by -1.85% at 19050 as comfortable supply outlook supported by good crop condition across India. Moreover, reports of pest attack incidence in some part of central region also limited the downside. Moreover, slower monsoon progress in Gujarat and reports of pest attack incidence in some part of central region is also likely to boost up positivity in prices. 

At the same time, tumbling cotton yarn export from India could hurt demand of fiber as Indian cotton yarn prices has turned uncompetitive due to higher tax.

Trading Ideas:

* Cotton trading range for the day is 18810-19450.

* Cotton prices dropped as comfortable supply outlook supported by good crop condition across India.

* Moreover, reports of pest attack incidence in some part of central region also limited the downside.

* At sowing front, overall cotton acreages have been higher by 16.71 % y/y till end of August as about 119.67 lakh hac was sown.

* Cotton prices in spot market dropped by 170.00 rupees and settled at 20150.00 rupees.

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