Cotton futures rises for 4th day on dry Texas weather

Cotton futures rises for 4th day on dry Texas weather

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Το περιεχόμενο του άρθρου δεν είναι διαθέσιμο στη γλώσσα που έχετε επιλέξει και ως εκ τούτου το εμφανίζουμε στην αυθεντική του εκδοχή. Μπορείτε να χρησιμοποιήσετε την υπηρεσία Google Translate για να το μεταφράσετε.

NEW YORK Aug 22 (Reuters) - Cotton futures rose on Friday, extending their winning streak to four, as dry and hot weather in the major producing region of Texas fueled supply fears.

The benchmark December cotton contract on ICE Futures U.S. closed up 0.26 cent at 66.18 cents a lb.

"We have adverse weather conditions affecting West Texas dryland cotton," said Kevin Brown, broker at Georgia-based Brown & Co.

A supply gap created by the transitions between new and old cotton crop, and speculation about drought in the North China plains also helped lift cotton prices, Brown said.

Supply concerns related to crop transition explained Friday's 1.4 percent rally for the October contract, which settled up 96 cents to 67.46 cents a lb, traders said.

An increase in plantings and much-needed Texas rains earlier in the growing season have boosted expectations that production will hit a four-year high in the United States, the world's top exporter.

But the return of dry weather in Texas this month added support as it has renewed worries over the crop in the top-producing state. (Reporting by Frank Tang; Editing by Chizu Nomiyama)

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