Cotton Little Lower

Cotton futures are trading steady to a little lower Tuesday morning. December Cotton is trading at 66.50, down 0.73. Trading is range-bound. Market talk about the USDA report due out today continues to keep both buyers and sellers active. Market chatter about the USDA crop report is making the rounds that old crop stocks will be adjusted down by 3 to 4 million bales and acreage will also be adjusted down in the report. Chatter about month end positioning, currency values and global financial market volatility continues keep both buyers and sellers active.