Oct 14 (Reuters) -ICE cotton futures fell more than1% on Monday to its lowest level in nearly one month, pressured by an uptick in the U.S. dollar, while a fall in crude oil and grain prices also weighed on the natural fiber.
* Cotton contracts for December CTZ4 fell 1.2 cents, or 1.6%, to 71.03 cents per lb at 11:55 a.m. ET (1555 GMT), marking its lowest level since Sept. 18.
* Grains are generally lower, and we're seeing some selling pressure, said Jack Scoville, vice president at Chicago-based Price Futures Group, adding that a higher dollar is also pushing prices lower.
* The U.S. dollar rose to its highest in over two months, making cotton more expensive for overseas buyers.
* Chicago corn and soybean futures extended losses after the U.S. government reiterated its expectation of bumper crops, while improving weather in Brazil added to supply pressure. GRA/
* Adding to the downbeat sentiment, oil prices declined about 2% as OPEC lowered its 2024 and 2025 global oil demand growth view again. O/R
* Lower oil prices make cotton-substitute polyester less expensive.
* "I think there was real disappointment that there was no announcement from the Chinese government of new support programmes for the Chinese economy last week, that kind of hurts demand ideas," Scoville added.
* In its October World Agriculture Supply and Demand Estimates (WASDE) report on Friday, the USDA said "World trade is lowered over 500,000 bales, mainly due to a reduction in China's imports."
* China is the largest consumer of cotton.
Reporting by Anjana Anil in Bengaluru; Editing by Shreya Biswas