Cotton Declines After Inventories Increase in U.S., Surplus Damps Demand

(Bloomberg) -- Cotton futures tumbled 2 percent as
inventories increased, spurring speculation that a surplus is
damping demand.

Stocks almost tripled to 705,387 bales from a year earlier,
the New York Board of Trade said today on its Web site. The
exchange monitors warehouses in four cities in Texas, Tennessee
and South Carolina. A bale weighs 480 pounds. Futures have
dropped 12 percent this year amid forecasts for the largest
surplus in 40 years.


Read more at Bloomberg Commodities News