Cotton futures fell to a new low for the move, rallied to the plus side shy of the prior-day high and retreated to close lower for the ninth session in a row Wednesday.
Spot December closed down 50 points to 78.21 cents, near the low of its 105-point range from 77.68 to 78.73 cents. March settled off 32 points to 79.83 cents.
Rolling of longs from December by index funds began in earnest and is expected to continue for two weeks. December's settlement discount to March widened to 199 points.
Volume rose to an estimated 31,800 lots from 20,403 lots ...