Investing.com - U.S. cotton futures moved higher on Monday, as investors readjusted positions ahead of the U.S. Department of Agriculture’s closely-watched monthly supply and demand report due later in the day.
On the ICE Futures U.S. Exchange, US cotton for May delivery rose to a session high of $0.9459 a pound, before trimming gains to last trade at $0.9433 a pound during U.S. morning hours, up 0.63%, or 0.59 cents.
The May cotton contract rallied 1.27%, or 1.18 cents, on Friday to settle at $0.9374 a pound.
Prices of the fiber hit a two-year high of $0.9735 a pound on March 26 as ongoing concerns over tightening nearby supplies in the U.S., the world's top exporter, boosted prices.
Elsewhere, US sugar for May delivery lost 1% to trade at $0.1779 a pound, as investors continued to monitor weather and crop conditions in top grower Brazil.
The May sugar contract rose 0.62% on Friday to settle at $0.1798 a pound.
Brazil is the world's largest sugar producer and exporter, with the U.S. Department of Agriculture estimating the nation accounts for nearly 20% of global production and 39% of global sugar exports.
Meanwhile, Arabica coffee for May delivery shed 0.36% to trade at $1.7933 a pound. Coffee prices surged 2.41%, or 4.25 cents, on Friday to settle at $1.8060 a pound.
Arabica prices hit a two-year high of $2.0975 a pound on March 12 as drought conditions in key coffee-growing regions in Brazil was expected to curb output.
Brazil is the world's largest producer and exporter of Arabica coffee.