Sept 24 (Reuters) -Cotton prices climbed to a three-month high on Tuesday on news of monetary stimulus from top consumer China, while a tropical storm in the Atlantic fueled weather concerns.

* Cotton contracts for December CTZ4 rose 0.59 cents, or 0.8%, at 74.03 cents per lb at 12:17 a.m. EDT (1617 GMT). Prices hit a three-month high on Monday.

* "China has made some moves to boost their economy, so that's supporting cotton prices a little bit," said Jack Scoville, vice president at Chicago-based Price Futures Group.

* China's central bank announced its biggest stimulus since the COVID-19 pandemic to pull the economy out of its deflationary funk and back towards the government's growth target.

* "And second of all, we do have a hurricane that's moving into the southeast, and that could damage cotton and that's a little bit of a two-edged sword, because if it damages the cotton, discolors it, that'll be negative to prices," Scoville added.

* Tropical Storm Helene formed over the northwestern Caribbean and is expected to become a hurricane on Wednesday, the U.S. National Hurricane Center said.

* Chicago soybeans extended gains to reach their highest level in two months as concern over drought hampering planting in Brazil and doubts regarding bumper U.S. harvest forecasts sustained short-covering, traders and analysts said. GRA/

* Oil prices jumped more than 2% on news of monetary stimulus from top importer China and concerns that conflict in the Middle East could hit regional supply while another hurricane threatened supply in the U.S. O/R

* Higher oil prices make cotton-substitute polyester more expensive.

Reporting by Sherin Elizabeth Varghese in Bengaluru; Editing by Krishna Chandra Eluri