Investing.com - U.S. cotton futures extended losses from the previous session on Tuesday, after U.S. Department of Agriculture projected higher-than-expected plantings of the fiber this spring.
On the ICE Futures U.S. Exchange, US cotton for May delivery fell to a session low of $0.9183 a pound, before trimming losses to last trade at $0.9211 a pound during U.S. morning hours, down 1.51%, or 1.42 cents.
The May cotton contract lost 0.23%, or 0.22 cents, on Monday to settle at $0.9352 a pound.
The USDA said that farmers in the U.S. will plant 11.1 million acres of cotton this year, up 7% from a year ago.
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 shed 0.28% to trade at $0.1773 a pound, as investors continued to monitor weather and crop conditions in top grower Brazil.
The May sugar contract lost 1.17% on Monday to settle at $0.1777 a pound after weather forecasts pointed to much-needed rain key sugar-growing regions in Brazil.
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 inched up 0.28% to trade at $1.7763 a pound. Coffee prices declined 1.5%, or 2.7 cents, on Monday to settle at $1.7790 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.
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