Cotton futures fell for a fourth straight session in light trading volume on Wednesday. "The market is walking sideways ... the speculators are selling the rallies (and) a few commercials buying the lower end of the market," said Georgia-based cotton broker Keith Brown. The May contract on ICE Futures US settled down 0.18 cent, or 0.32 percent, at 55.93 cents per lb, after hitting a low of 55.64 cents.
Certificated cotton stocks deliverable as of Tuesday totalled 74,303 480-lb bales, up from 69,670 in the previous session. Total futures market volume fell by 7,846 to 28,037 lots. Data showed total open interest fell 23 to 202,863 contracts in the previous session.
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