DJ MARKET TALK: ICE Dec Cotton Hits New Highs In Bullish Market

1450 EDT [Dow Jones] - ICE Dec cotton traded to fresh highs as speculative
buying continues to be a force in a market affected by tight global supplies
and strong demand for textiles. Too-wet conditions in India and China have
traders worried that crops won't be as large as expected. Most-active Dec
reached 94.85 cents a pound, its strongest level since June 30, 2008. Nearby
Oct cotton reached a peak of 93.79 cents, near the 15-year high of 93.85 cents.
Volume is pegged at 19,842 contracts, with 11,881 calls and 9,796 put options
traded. Most-active Dec cotton rose 1.79 cents, or 1.9%, to settle at 94.50
cents a pound.