Cotton prices surged, capping the biggest weekly gain in 39 years, on mounting concern that exports will be limited from India, the world’s second-largest grower.
Cotton futures jumped to a three-week high as U.S. exports climbed, signaling ample global demand continues to outpace supplies.
Cotton prices rose in New York on speculation that supplies will be tight. Orange-juice futures climbed the most in two months.
Cotton futures fell the most in almost three weeks after the U.S. government raised its crop forecast. Orange juice gained.
The removal of Trident nuclear warheads from an independent Scotland could take a decade, U.K. Defence Secretary Philip Hammond told lawmakers today.
Cotton futures fell for a second straight session on concern that demand will slow from China, the world’s biggest user and importer. Sugar also slid, while orange juice, coffee and cocoa rose.
Cotton futures fell the most since June, after touching a 15-year high yesterday, as India’s farm minister came out against the government’s proposed limits on exports.
South Africa’s Cobus Wessels was stood down as an assistant referee for the Aug. 7 Tri-Nations Test between New Zealand and Australia following his performance last week, the International Rugby Board said.
Cotton rose, capping the biggest annual gain since 1973, as inventories plunged, adverse weather damaged global crops and demand surged in China, the world’s biggest user. Orange juice declined.
"The cotton market is under harvest pressure."
- Keith Brown on Oct 28, 2013