ICE Cotton Futures Down Near 4% At $1.2890 A Pound (USA)

Cotton futures prices on the ICE Futures U.S. exchangefor December delivery settled down near 4% or 4.85 cents, just up from theirlimit down of 6 cents for the day, at $1.2890 a pound Wednesday. March cottonfutures, meanwhile, also settled down near 4%, or 5.05 cents, at $1.2415 apound. James Cordier, president of Liberty Trading Group in Tampa, Fla., saidChina's announced plan to stabilize prices continued the process of flushingout a lot of speculative money in the market. Meanwhile, traders await the nextexport sales report set for release from the U.S. Department of Agriculture at8:30 a.m. EST Thursday for clues to demand.