Yesterday we learned that ChinaΆs cotton imports for June fell 22% from May levels. The info is from the China Cotton Association and officials note also that June imports were 43% lower than a year ago for June.

And so far this year, ChinaΆs cotton imports total 2.41 million tonnes, 21% lower than this time a year ago. Interestingly, we were apparently ahead of trade talk because wire services are reporting that this news, along with the rains in Texas, were the dominant driver in todayΆs losses, which clearly broke the uptrend line in cotton and restored downside risk to the two different support zones shown.