Investing.com - U.S. soft futures were mixed on Tuesday, with cotton prices climbing 1% amid ongoing concerns over U.S. crop conditions.
On the ICE Futures U.S. Exchange, cotton futures for December delivery traded at USD0.8476 a pound, up 0.9%. The December contract settled 0.55% lower at USD0.8400 a pound on Monday.
Cotton prices rose by as much as 1.1% earlier in the day to hit a session high of USD0.8495 a pound.
The U.S. Department of Agriculture said on Monday that approximately 43% of the U.S. cotton crop was in ‘good’ to ‘excellent’ condition as of September 15, down from 45% a week earlier.
The agency said only 4% of the cotton was harvested as of last week, below the five-year average of 8% for this time of year.
Elsewhere, sugar futures for October delivery traded at USD0.1688 a pound, down 0.35%. The October contract ended down 0.9% lower at USD0.1694 a pound on Monday.
Prices of the sweetener fell by as much as 0.4% earlier in the day to hit a session low of USD0.1687 a pound, the weakest level since September 9.
Monday’s losses came after India forecast a larger harvest than expected, adding to concerns over ample global supplies.
The Indian Sugar Mills Association said that sugar production in India will be 5.5% more than estimated in July, as heavy monsoon rainfall boosted yields.
India’s sugar harvest will total 25 million metric tons in the season starting October 1, up from 23.7 million tons forecast in July.
India is the world's second largest sugar producer. It exported approximately 2.6 million tons of the sweetener in the 2010-11 marketing year.
Meanwhile, Arabica coffee for December delivery traded at USD1.1898 a pound, up 0.1%. The December contract settled 0.65% lower at USD1.1925 a pound on Monday.
Arabica prices traded in a range between USD1.1865 a pound, the session low and a daily high of USD1.1915 a pound.
Prices of the bean remained supported amid speculation dry weather in Brazil will damage crops and lower the quality of the harvest.
The South American country is the world's largest producer and exporter of Arabica coffee.
On the ICE Futures U.S. Exchange, cotton futures for December delivery traded at USD0.8476 a pound, up 0.9%. The December contract settled 0.55% lower at USD0.8400 a pound on Monday.
Cotton prices rose by as much as 1.1% earlier in the day to hit a session high of USD0.8495 a pound.
The U.S. Department of Agriculture said on Monday that approximately 43% of the U.S. cotton crop was in ‘good’ to ‘excellent’ condition as of September 15, down from 45% a week earlier.
The agency said only 4% of the cotton was harvested as of last week, below the five-year average of 8% for this time of year.
Elsewhere, sugar futures for October delivery traded at USD0.1688 a pound, down 0.35%. The October contract ended down 0.9% lower at USD0.1694 a pound on Monday.
Prices of the sweetener fell by as much as 0.4% earlier in the day to hit a session low of USD0.1687 a pound, the weakest level since September 9.
Monday’s losses came after India forecast a larger harvest than expected, adding to concerns over ample global supplies.
The Indian Sugar Mills Association said that sugar production in India will be 5.5% more than estimated in July, as heavy monsoon rainfall boosted yields.
India’s sugar harvest will total 25 million metric tons in the season starting October 1, up from 23.7 million tons forecast in July.
India is the world's second largest sugar producer. It exported approximately 2.6 million tons of the sweetener in the 2010-11 marketing year.
Meanwhile, Arabica coffee for December delivery traded at USD1.1898 a pound, up 0.1%. The December contract settled 0.65% lower at USD1.1925 a pound on Monday.
Arabica prices traded in a range between USD1.1865 a pound, the session low and a daily high of USD1.1915 a pound.
Prices of the bean remained supported amid speculation dry weather in Brazil will damage crops and lower the quality of the harvest.
The South American country is the world's largest producer and exporter of Arabica coffee.