Cotton trading range for the day is 20420-20780

Cotton on MCX settled up by 0.34% at 20630 due to reduces arrivals of the crop from Tamil Nadu region. As per reports, there is a reduction of 50,000 bales in the crop estimate for Tamil Nadu compared to the previous month’s estimate. Indian cotton production for the 2019-20 season is seen at 29 million 480 lb bales, the U.S. Department of Agriculture (USDA) said in a report down 1% from earlier estimates.

Trading Ideas:

* Cotton trading range for the day is 20420-20780.

* Cotton prices gained due to reduces arrivals of the crop from Tamil Nadu region.

* Indian cotton production for the 2019-20 season is seen at 29 million 480 lb bales, down 1% from earlier estimates.

* Area in Gujarat under cotton is higher as on 29-Jul-19 at 23.76 lakh ha compared to 25.5 lakh ha last year.

* Cotton prices in spot market gained by 70.00 rupees and settled at 20240.00 rupees.

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Cotton trading range for the day is 20990-21390

Cotton on MCX settled up by 0.52% at 21230 tracking deficient rain in main cotton growing districts in Gujarat. According to IMD, monsoon rain this season is down by 30% to 70% in Suarashtra region which may severely affect cotton grown in the area. Area in Gujarat under cotton is higher by 64% as on 12-Jul-19 at 18.76 lakh ha compared to 11.44 lakh ha last year.

Trading Ideas:

* Cotton trading range for the day is 20990-21390.

* Cotton prices gained tracking deficient rain in main cotton growing districts in Gujarat.

* India cotton sowing 96.35 lakh hac vs 92.70 lakh hac year ago.

* Around 61% cotton crop has been sown in AP and the area slide down to 1.55 lakh ha 0.32% less compared to 2.28 lakh ha in 2018-19

* Cotton prices in spot market dropped by 50.00 rupees and settled at 21290.00 rupees.

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