Thursday, 15 June 2017

EPIC RESEARCH NCDEX COTTON UPDATE OF 15 JUNE 2017

Cotton trading range for the day is 20043-20463.Cotton prices ended with losses on good sowing progress from major growing regions this season.USDA maintains India's cotton output forecast for 2016-17 at 26.5 million bales (480 lb bales) for June month while continues consumption estimates. The ICAC reduced its expectation for the drop in cotton prices next season, forecasting a drop of nearly 1m tonnes in global stocks.Cotton prices in spot market dropped by 10.00 rupees and settled at 20360.00 rupees.

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