Cotton Futures Climb on Strong U.S. Export Data; Sugar Advances
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Cotton gained the most in seven weeks after a government report showed improved demand for supplies from the U.S., the world’s biggest exporter. Sugar and orange juice also increased, while cocoa slid.
In the week to April 25, export sales of upland cotton rose 32 percent from a week earlier, the third straight advance and the longest run since mid-November, the U.S. Department of Agriculture said today in a report. China, the world’s biggest user, led the purchases, followed by Vietnam and Mexico, the figures show. Through yesterday, futures slumped 11 percent since March 15, when prices rose to an 11-month high.