The contract traded within a range of 72.00 to 72.67 cents per lb. "People are in wait-and-see mode, the market is awaiting on the numbers from the export sales report," said Beau Stephenson, senior vice president at Omnicotton Inc.
"People are also awaiting on trade talks and we need some firmer news to give the market any particular price direction," Stephenson said.
The USDA's weekly export sales report is due on Friday.
US Trade Representative Robert Lighthizer is scheduled to testify next week at a US House of Representatives hearing on US-China trade issues, a spokesman for the House Ways and Means Committee said on Wednesday.
US President Donald Trump said on Tuesday that trade talks with China were going well and suggested he was open to extending the deadline to complete negotiations.
Total futures market volume fell by 24,666 to 28,722 lots. Data showed total open interest fell 7,230 to 230,413 contracts in the previous session.
Certificated cotton stocks deliverable as of Feb. 19 totaled 129,104 480-lb bales, unchanged from 129,104 in the previous session.