Cotton prices climbed back near 10-year highs in New York on bets that strong demand will keep supplies constrained. Arabica coffee surged on sinking Brazilian exports.
Cotton futures rose, heading for a fifth straight monthly gain propelled by tight supplies in top shipper U.S. and signs of fresh harvest delays amid strong Asian demand.
Coffee supplies in the U.S. are shrinking and wholesale prices are surging, with the hard-hit market bracing for further fallout from a global shortage of shipping containers that’s upended the food trade.
