ICE cotton falls over 4% Thu on record US yield view.

Cotton contract settled down over 4% on ICE futures on after the USDA projected a rise in the country’s output because of record high yields. USDA scaled up its 2017-18 (Aug-Jul) production estimate for the country to 20.55 mln bales (1 US bale = 480 pound) from 19.0 mln bales projected in July.