Breaking News


Cotton Gains Most in Four Weeks; Coffee, Cocoa Advance

Cotton futures gained the most in four weeks on speculation that demand will increase for supplies from the U.S., the world’s biggest exporter. Coffee, cocoa and orange juice climbed, while sugar dropped.

In the week ended Nov. 1, sales of upland cotton from the U.S. more than doubled from a week earlier with increases posted to Turkey, Vietnam, Mexico and China, the world’s top user, the Department of Agriculture said on Nov. 8. The agency will release the latest figures tomorrow.

“Many analysts and traders are expecting the report to show robust sales,” Andy Ryan, a senior risk manager at INTL FCStone in Nashville, Tennessee, said in a report.

Cotton for March delivery climbed 1.4 percent to settle at 72.24 cents a pound at 2:33 p.m. on ICE Futures U.S. in New York, the biggest advance for a most-active contract since Oct. 17.

“There is a lot of business being done with Turkey and Pakistan,” Jordan Lea, the chairman of Eastern Trading Co., an exporter in Greenville, South Carolina, said in an e-mail.

Arabica-coffee futures for March delivery gained 0.8 percent to $1.54 a pound in New York. Earlier, the price touched $1.4945, the lowest since June 15, 2010.

Cocoa futures for March delivery advanced 1.1 percent to $2,483 a metric ton. The price climbed for the fifth straight session, the longest rally since late August.

Orange-juice futures for January delivery climbed 3.1 percent to $1.1625 a pound. Earlier, the price reached $1.18, the highest since Oct. 11.

Raw-sugar futures for March delivery fell 1 percent to 19.04 cents a pound.

To contact the reporters on this story: Marvin G. Perez in New York at; Patricia Laya in New York at

To contact the editor responsible for this story: Steve Stroth at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.