Cotton Futures Jump Most in Two Weeks on U.S. Supply Concerns
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Cotton futures rose the most in two weeks on speculation that the crop in the U.S., the world’s leading exporter, was smaller than the government’s forecast in March.
On April 8, the Department of Agriculture may say that 18.16 million bales were harvested, down from 18.32 million projected in March, according to the average of five analysts in a Bloomberg survey. China plans purchases to bolster reserves, likely boosting demand for U.S. shipments, said John Flanagan, the president of Flanagan Trading Corp. in Fuquay-Varina, North Carolina.