Sugar futures climbed to the highest in more than five months on concern that rains will limit supplies from Brazil, the world’s biggest producer and exporter. Cotton, coffee and orange juice rose. Cocoa slid.
Cotton prices rose, extending a rally above $2 a pound, on signs that global supplies will remain limited this year amid increased demand from China, the world’s biggest consumer. Orange juice also gained.
Wheat futures jumped the most in a week as declining world production boosts demand for supplies from the U.S., the world’s biggest exporter. Corn and soybeans for delivery after this year’s harvest rose.
Cotton topped $2 a pound for the first time ever as accelerating global growth boosted demand for garments manufactured in China, the world’s biggest fiber consumer and importer, amid shrinking supplies.