MARKET TALK: Cotton Futures Plunge Most In 15 Years

Cotton futures lost their maximum allowable amountWednesday, pulling back from historic highs on end-of-the-month profit-taking.After setting a new post-Civil War mark Tuesday, funds liquidated some of theirpositions and booked profits, spurring the largest single-day fall in 15 years.Despite the price plunge--which was made possible by an expansion to the priceswing limits--analysts say underlying demand remains strong and could drive themarket to new highs in the near future. ICE December cotton settled 6 cents, or4.6%, lower at $1.2359 a pound.

source:Dow Jones Newswires