EPIC RESEARCH NCDEX COTTON UPDATE OF 31 MAY 2017

Cotton trading range for the day is 21007-21367.Cotton prices traded in range as farmers take advantage of high prices to produce more and China floods the market with excess supply.Cotton Association of India (CAI) has released its April estimate of the crop for the 2016-17 season, beginning October 1, 2016.The projected balance sheet drawn by the CAI estimated total cotton supply for the season at 410.50 lakh bales.Cotton prices in spot market dropped by 80.00 rupees and settled at 20460.00 rupees.

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