DJ MARKET TALK: Cotton Futures Plunge Most In 15 Years

Oct 27, 2010 (Dow Jones Commodities News via Comtex) -- 1508 EDT [Dow Jones] - Cotton futures lost their maximum allowable amount Wednesday, pulling back from historic highs on end-of-the-month profit-taking. After setting a new post-Civil War mark Tuesday, funds liquidated some of their positions and booked profits, spurring the largest single-day fall in 15 years. Despite the price plunge--which was made possible by an expansion to the price swing limits--analysts say underlying demand remains strong and could drive the market to new highs in the near future. ICE December cotton settled 6 cents, or 4.6%, lower at $1.2359 a pound.