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US cotton jumps by daily limit for 2nd day

SINGAPORE: US cotton futures rose by the daily limit for a second straight day on Tuesday as investors continued to be
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By Abdul Ahad
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SINGAPORE: US cotton futures rose by the daily limit for a second straight day on Tuesday as investors continued to bet on the commodity amid strong demand, led by top importer China.

The key May cotton contract on ICE Futures US rose the 7.00-cent limit to trade at $1.9823 per lb in early Asian trade, while China's Zhengzhou cotton gained more than 4 percent to trade around 32,970 yuan per tonne.

Copyright Reuters, 2011

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