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Cotton futures mixed

NEW YORK: NYCE cotton futures were mixed at midsession with the front months down amid some trade selling and a lack of buying and the deferreds up on spillover bullish sentiment from a CBOT grain rally, analysts said.

At 1126 EDT, May cotton lost 0.52 centsto 86.75 cents a lb while nearby July was off 0.39 cent to 88.20. The rest of the board was -0.13 to 0.50 cent higher.

"Some of the cotton acreage may yield over to grain," Prudential Securities analyst Ernest Simon said. He noted some farmers are considering to plant alternative crops due to the huge difference in prices for soybeans and corn.

"This is particurly true in the Delta where soybean yields and moisture are favorable," Texas A and M University cotton marketing specialist Carl Anderson said.

He noted one report from a Louisiana cotton farmer who will planting all of his cotton acreage to corn.-Reuter