Cotton Moves Down

Cotton futures are trading lower Wednesday. December Cotton is trading at 6723, down 0.68. Trading is range-bound. The USDA report on Tuesday showed acreage Intentions at 8.998 million acres versus March's 9.43 million and down from 11.037 million a year ago. The USDA will resurvey some states due to plantings delays. Market talk that China will release 1 million tons of cotton over the next few months is making the rounds.