1627 EDT [Dow Jones] Cotton futures dropped Thursday after traders learned
that India does not plan to completely ban its exports following its earlier
request to delay the export process by two weeks. Futures rose earlier in the
week on fears that India, one of the world's major cotton producers, would be
unable to export its crop. Poor weather has limited harvests throughout Asia
and forced mills worlwide to purchase cotton at higher-than-normal prices. The
news signals a likely end to the recent run up, First Capitol Group says, as
fears of a major shortage are easing. ICE October cotton was 2.6 cents, or
2.6%, lower at 97.77 cents a pound.