Cotton futures climbed on signs of firm demand for supplies from the US, the world’s top exporter.

In the week ended Dec. 17, U.S. export sales of upland cotton more than tripled from a year earlier, government data showed. China has boosted purchases to meet commitments under a trade deal, while its economy rebounds.

 

The U.S. Department of Agriculture cut its forecast for the domestic crop several times after adverse weather, including drought and hurricanes, eroded supply prospects. Futures have jumped 57% from the lowest in a decade on April 1. A surge in soybean and corn prices signals cotton acreage may ebb next year.

 

Brazil, the second-largest exporter, faces a smaller harvest and higher domestic demand, while Pakistan, a major importer, is boosting purchases after a drop in production.