Thursday, 29 June 2017

EPIC RESEARCH NCDEX COTTON UPDATE OF 29 JUNE 2017

Cotton trading range for the day is 19770-20170. Cotton gains on short covering after prices dropped due to lower physical demand and good start to kharif sowing in the country. Cotton output in India, may increase to a three-year high as some farmers plant more of the fiber on better returns compared to other crops. Production will probably climb to 37.5 million to 38 million bales in the harvesting season starting October 1. Cotton prices in spot market gained by 20.00 rupees and settled at 20230.00 rupees.

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