Wednesday 22 March 2017

EPIC RESEARCH NCDEX COTTON UPDATE OF 22 MARCH 2017

Cotton trading range for the day is 20960-21520. Cotton prices dropped as arrivals rose also the cotton trade body maintains a higher crop size. Cotton yarn exports to China may increase due to poor response to state reserve auction in China. Cotton prices can see support on speculation of an El Nino at the beginning of the monsoon. Exports are likely to be around 5-5.5 million bales with the main destinations being Vietnam, Bangladesh and Indonesia.

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