Jan 30 (Reuters) - Cotton futures fell on Thursday, hitting its lowest level in over two-month, as persistent selling pressure and a weak federal export sales report kept prices under pressure.
* Cotton contracts for March CTc1 fell 0.36 cent, or 0.5%, at 66.3 cents per lb at 12:17 p.m. ET (17:17 GMT), hitting its lowest level since Nov. 19, earlier in the session.
* It is just that "selling pressure is the easiest path right now. There's not necessarily a lot of specific bearish influences at the moment," said Bailey Thomen, cotton risk management consultant at StoneX Group.
* The export sales report was "pretty steady, although not quite as strong as we have seen the previous two weeks," Thomen added.
* The United States Department of Agriculture's weekly export sales report showed net sales of upland cotton totaling 280,000 running bales (RB) for 2024/2025 were down 20% from the previous week, but up 20% from the prior 4-week average. EXP/COT
* The report further showed the exports sales of upland cotton at 153,500 RB were down 31% from the previous week and 19% from the prior 4-week average.
* Elsewhere, Chicago corn futures edged down, consolidating after touching a 15-month high a day earlier when dry weather in Argentina and slow planting in Brazil rekindled supply concerns. GRA/
* Earlier this week, the White House said U.S. president Donald Trump plans to hit Mexico and Canada with steep tariffs on Saturday while also considering some on China.
(Reporting by Sherin Elizabeth Varghese in Bengaluru; Editing by Leroy Leo)
((sherinelizabeth.varghese@thomsonreuters.com;))
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