(Bloomberg) -- Cotton rose to a one-year high in
New York, extending this month's rally, as a surge in U.S.
shipments eased concern that domestic production was rising
faster than demand.
U.S. merchants shipped 451,630 bales for the week ended
June 7, up 11 percent from the previous week and the most since
July last year, the U.S. Department of Agriculture said today.
The USDA, which has lowered its export forecast every month
since November, said June 11 that shipments will reach 13
million bales in the marketing year that ends July 31.
Read more at Bloomberg Commodities News
New York, extending this month's rally, as a surge in U.S.
shipments eased concern that domestic production was rising
faster than demand.
U.S. merchants shipped 451,630 bales for the week ended
June 7, up 11 percent from the previous week and the most since
July last year, the U.S. Department of Agriculture said today.
The USDA, which has lowered its export forecast every month
since November, said June 11 that shipments will reach 13
million bales in the marketing year that ends July 31.
Read more at Bloomberg Commodities News
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