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.

“People are worried about lower output in the U.S.,” Flanagan said. “Demand is still strong, and we could see a new high.”

Cotton for May delivery jumped by the limit of 7 cents, or 3.5 percent, to settle at $2.0806 a pound at 2:51 p.m. on ICE Futures U.S. in New York, the biggest gain since March 22. The fiber rose to a record of $2.197 on March 7.

Adverse weather may delay the harvest in Australia, the world’s fourth-largest exporter, according to Rabobank Australia Ltd.

A USDA survey last month indicated U.S. farmers may sow fewer acres than analysts expected.

“U.S. farmers will be planting less cotton this year, so the market will be more sensitive to any weather disruptions in other major producers,” said Justine White, an analyst at VM Group in London. “Any changes in consumption estimates and stock levels which are seen as even slightly bullish could see the market surge higher.”