cvFindContours Always return 1 - opencv

Question

I am using OpenCV 2.4.6 and Visual C++ 2010. I am trying to track RED color in the below code. I'm using cvInRangeS to get the RED object from the image and that image is a binary image. Then using cvFindContours(..) I want to find the contours of the object.But cvFindcontours(..) always returning 1. I am also using cvBoundingRect(..) to get the contour's position in the image. The rectangle position i am getting is always (1,1,638,478). Means the cvFindcontour(..) is taking whole image as a single contour. How can I get only the RED objects in contour?
int main()
{
IplImage* mCVImageColor = cvCreateImageHeader(cvSize(640,480), IPL_DEPTH_8U, 3);
IplImage* imgTracking;
CvCapture* capture = cvCaptureFromCAM( CV_CAP_ANY );
namedWindow( "Display image", CV_WINDOW_AUTOSIZE );
namedWindow( "Display window", CV_WINDOW_AUTOSIZE );
namedWindow( "Display tracking", CV_WINDOW_AUTOSIZE );
namedWindow( "Display thresh", CV_WINDOW_AUTOSIZE );
CvRect rect;
CvMemStorage *storage = cvCreateMemStorage(0);
CvSeq *contours=0;
while(1)
{
IplImage* mCVImageColor = cvQueryFrame( capture );
cvSmooth(mCVImageColor, mCVImageColor, CV_GAUSSIAN,3,3);
imgTracking=cvCreateImage(cvGetSize(mCVImageColor),IPL_DEPTH_8U, 1);
IplImage* imgHSV = cvCreateImage(cvGetSize(mCVImageColor), IPL_DEPTH_8U, 3);
IplImage* imgThresh=cvCreateImage(cvGetSize(mCVImageColor),8, 1);
cvCvtColor(mCVImageColor, imgHSV, CV_BGR2HSV);
cvInRangeS(imgHSV, cvScalar(170,160,60), cvScalar(180,255,256), imgThresh);
cvAdd(imgThresh, imgTracking, imgTracking);
cvConvertScale(imgTracking, imgTracking, 1.0, 0.0);
int x = cvFindContours(imgTracking,storage,&contours,sizeof(CvContour), CV_RETR_LIST, CV_CHAIN_APPROX_SIMPLE, cvPoint(2, 2));
printf("%d\n",contours->total);
for (; contours != 0; contours = contours->h_next)
{
rect = cvBoundingRect(contours); //extract bounding box for current contour
//drawing rectangle
cvRectangle(mCVImageColor,cvPoint(rect.x, rect.y),cvPoint(rect.x+rect.width, rect.y+rect.height),cvScalar(0, 0, 255),2, 8, 0);
printf("%d %d %d %d\n",rect.x, rect.y,rect.width,rect.height);
if(rect.width*rect.height<1400)
{
CvPoint centroid[1];
centroid[0].x = cvRound((rect.x+rect.width)/2);
centroid[0].y = cvRound((rect.y+rect.height)/2);
cvCircle( mCVImageColor, centroid[0], 5, CV_RGB(255, 0, 0),10, -1);
}
}
cvShowImage("Display tracking",imgTracking);
cvShowImage("Display window",imgHSV);
cvShowImage("Display image",mCVImageColor);
cvShowImage("Display thresh",imgThresh);
cvClearMemStorage( storage );
contours = 0;
//cvReleaseImage(&imgHSV);
//cvReleaseImage(&imgThresh);
int c = waitKey(20);
if(c=='q')
break;
}
}