Cotton futures inched lower for the third straight session on Wednesday, pressured by losses in the grains markets. The fibre market is in a "straight follow through from the past six or seven trades - they just moved lower - as there is no fundamental reason for it to move higher," said Jim Lambert, director of sales at FCStone Merchant Services in Nashville, Tennessee. The market also awaited weekly export sales data from the United States on Thursday.
The front-month July cotton contract on ICE Futures US settled down 0.3 cent, or 0.49 percent, at 60.6 cents per lb. It traded within a range of 60.55 and 61.75 cents a lb. The most-active soybean futures fell 5-3/4 cent to $10.78-3/4 per bushel while the front-month corn futures were down 4-1/2 cent to $3.73.
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