(Bloomberg) -- Cotton rose to a three-year high in
New York on speculation that China will increase imports of the
commodity while supplies may be curtailed because of dry weather
forecast for the U.S. Southeast.
China, the world's biggest cotton grower and importer, may
need to increase foreign purchases as domestic supplies dwindle,
a government committee said last week. Dry, hot weather is
expected to return to areas in Mississippi, Alabama and Georgia,
according to a note today from Lehman Brothers in New York. Those
states produced about 25 percent of the U.S. crop last year.
Read more at Bloomberg Commodities News
New York on speculation that China will increase imports of the
commodity while supplies may be curtailed because of dry weather
forecast for the U.S. Southeast.
China, the world's biggest cotton grower and importer, may
need to increase foreign purchases as domestic supplies dwindle,
a government committee said last week. Dry, hot weather is
expected to return to areas in Mississippi, Alabama and Georgia,
according to a note today from Lehman Brothers in New York. Those
states produced about 25 percent of the U.S. crop last year.
Read more at Bloomberg Commodities News
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