Cotton trading range for the day is 20510-20930.

Cotton on MCX settled up by 0.44% at 20750 amid deficient rain in main cotton growing districts of Gujarat capped downside momentum. 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 20510-20930.

* Cotton prices gained amid deficient rain in main cotton growing districts of Gujarat capped downside momentum.

* 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.

* Cotton prices in spot market dropped by 60.00 rupees and settled at 20980.00 rupees.

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