As prices increased and the USDA reduced U.S. production, cotton fell on profit booking
Profit booking caused cotton candy to drop -0.54% to close at 58,700 after rising in response to the USDA’s October WASDE data. Citing reduced yields in Texas, the research reduced U.S. cotton production for 2023–2024 to 12.8 million bales. Fascinatingly, Brazil is on the verge of surpassing U.S. cotton exports for the first time since…