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.
Cotton futures fell for the sixth time in seven sessions after supply concerns eased as India is set to reconsider a ban on shipments. Orange juice gained.
Cotton prices declined for a third straight session on expectations for a bigger crop in the U.S., the world’s largest exporter. Coffee also retreated.
Cotton prices rose for the fourth day this week on signs of improved demand from mills in the U.S., the world’s largest exporter of the fiber. Orange-juice futures fell.
Cotton gained the most in more than a week on expectations for increasing demand from China, the world’s largest buyer. Orange juice also rose.
Cotton futures advanced to a record for the fifth straight session on concern that a decline in production in China will prompt the world’s biggest user to boost imports and drain global inventories.
"To have the economy shrink like that indicates that things are slowing down."
- Sid Love on Jun 25, 2014