Cotton Advances to Record; Orange Juice Steady; Coffee Falls

Cotton futures surged to a record for a third straight day as increased exports from the U.S., the world’s largest shipper, signaled that global demand remains robust. Orange juice was unchanged, while coffee declined.

In the week ended Feb. 3, U.S. cotton shipments jumped 26 percent from a week earlier, the Department of Agriculture said yesterday. Prices have more than doubled in the past year as adverse weather slashed global crops and mills boosted purchases in China, the biggest user.