DJ MARKET TALK: Cotton Futures Continue Robust Selloff

[Dow Jones] ICE cotton futures for December delivery plunge for the third
consecutive day as buyers try to limit losses by exiting positions. ICE lifts
cap, which limits daily decline to no more than 6 cents, on December contract
Tuesday, delivery notification day. Lifting cap is common practice on
notification day. "This is panic liquidation right now and it could be a
climatic selloff," says John Flanagan, of Flanagan Trading Corp. "It is
possible for December (cotton) to go below $1.1085 a pound." December futures
fell 7.2% to $1.1309 a pound, while March futures fell 5.1% to $1.1179 a pound.