I cycle in Germany and can confirm: Beeswax and linseed oil (I currently use a 1:1 mix) are great for the purpose. Any cotton fabric will happily comply.
I use smaller amounts of the wax/oil mix also to prepare most of my trousers, hats and jackets for the Wetter seasons. 🙃 - and to lubricate zippers, and wax my beard, make wax cloths, treat wooden cutting boards and tool-handles, pack food items, and whatnot ...
You can pour the molten mix into an empty deodorant stick dispenser and - voilà - you have an omni-use-wax-stick. - Even an empty lip balm (think labello / chap stick) works for an omni-use-travel-pocket-wax-stick.
this is such good news!!