Thursday, July 11, 2013

Cotton Prices Show Sharp Drop on USDA Supply Revision

Bloomberg: "Cotton futures fell the most in seven weeks after the U.S. government increased its projections for the world crop."
NEW YORK, July 11 (Reuters) - The U.S. government raised its forecasts for U.S. cotton inventories on the back of reduced export estimates in the current crop year and upped its projections for ballooning global supplies amid higher output and falling consumption.