ICE cotton futures fell for the first time in six sessions on Wednesday, after a five-day rally following the release of a bullish US government crop forecast, as producers saw price levels near 5-1/2 week highs as a good selling opportunity. "Producers are coming to the table," said Jobe Moss, a broker with MCM Inc in Lubbock, Texas, noting that producers who did not sell when prices were higher in late June and early July are "not going to let this opportunity go by without selling something up here."
December cotton on ICE Futures US settled down by 0.1 cent on Wednesday, a 0.2 percent loss, at 66.53 cents per pound. It traded within a range of 65.83 and 66.80 cents a pound. Total futures market volume rose by 3,556 to 22,369 lots. Data showed total open interest gained 2,925 to 190,906 contracts in the previous session.
Certificated cotton stocks deliverable as of August 18 totalled 87,954 480-lb bales, down from 89,141 in the previous session. The dollar index was down 0.58 percent. The Thomson Reuters CoreCommodity CRB Index, which tracks 19 commodities, was down 1.57 percent. The Relative Strength Index in the most-active contract fell to 61.688.
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