On Wednesday, ICE cotton futures remained stable as worries about demand from a major customer, China, 

Outweighed support from supply issues as traders prepared for a crucial government monthly supply-demand report.

* As of 12:57 p.m. ET (1657 GMT), cotton contracts for December (CTZ3) were slightly changed at 85.48 cents per lb.


* The World Agricultural Supply and Demand Estimates (WASDE) report from the U.S. Department of Agriculture (USDA), 

Which is expected on Thursday, is currently the focus of the market.

* "Investors will hang their hat on whatever supply cut they're going to see in the data (WASDE) and ignore demand,

Saying that it is going to get better, but demand has a good chance to get worse later on," said Louis Barbera, partner and analyst at VLM Commodities.

* "U.S. supply cuts aren't really relevant anymore; Brazil and Australia will now export more cotton than the U.S., 

Especially to China... Barbera continued, "Brazil has a possibility to export more than only the United States.

* The USDA said on Tuesday that 32% of the cotton crop was in good to excellent condition, up from 30% the previous week.


* Oil prices dropped as concerns about supply disruptions brought on by Middle East violence subsided a day after Saudi Arabia, the top OPEC producer, committed to support market stability. Polyester, a cotton alternative, becomes less expensive due to falling oil costs.

* Chicago maize, wheat, and soybean futures all moved lower in the grain market as investors focused on the closely watched U.S. government crop predictions.

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