Cotton Futures Rise to One-Year High on Prospect of U.S. Planting Delays

(Bloomberg) -- Cotton rose to a 1-year high in New
York on speculation that planting may be delayed by wet weather
in Texas, the largest U.S. grower, and by a drought in the
country's southeast.

Texas farmers had planted 72 percent of their crop as of
June 3, compared with 84 percent a year earlier, the U.S.
Department of Agriculture said in a report last week. Georgia
growers planted 74 percent by June 3, compared with 93 percent
last year, according to the report. The USDA is scheduled to
release its latest progress report today at 4 p.m. in Washington.


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