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Cotton Rises on U.S. Growth, Planting Delay; Coffee Gains

Cotton rose for a second day as an improving economic outlook signaled rising demand, while rain delays plantings in the U.S., the world’s top exporter. Coffee, cocoa and orange juice also gained. Sugar slid.

U.S. payrolls expanded by 165,000 workers in April, beating the median forecast of 140,000 in a Bloomberg survey, Labor Department figures showed today. Wet weather will slow fieldwork next week in Tennessee, Alabama, Georgia and the Carolinas, while light showers will not end dry conditions in West Texas, the top-growing region, Bethesda, Maryland-based Commodity Weather Group LLC forecast.

“The payroll report was above expectations, and that is offering some support to this industrial commodity,” John Flanagan, the president of Flanagan Trading in Fuquay-Varina, North Carolina, said today in a report. “Rain delaying fieldwork is supportive to prices.”

Cotton for July delivery climbed 0.9 percent to settle at 86.43 cents a pound at 2:30 p.m. on ICE Futures U.S. in New York. This week, the fiber advanced 2.6 percent, the first gain since April 12.

The weather issues in the U.S. may mean that “at best” crops will be later than normal for the year that starts Aug. 1, and “at worst” could see reductions in acreage, yield and quality, Peter Egli, a Chicago-based director of risk management for Plexus Cotton Ltd., said in a report on the firm’s website.

Arabica-coffee futures for July delivery jumped 1 percent to $1.409 a pound, after reaching $1.418, the highest for a most-active contract since April 23. This week, the price rallied 5.2 percent, the most since September.

Cocoa futures for July delivery advanced 0.1 percent to $2,416 a metric ton. Earlier, the price touched $2,437, the highest since Dec. 17. The commodity has climbed for four straight weeks, the longest run since August.

Orange-juice futures for July delivery rose 0.6 percent to $1.44 a pound, extending this week’s climb to 3.8 percent.

Raw-sugar futures for July delivery fell 0.4 percent to 17.53 cents a pound.

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