Raw sugar prices slip with focus on October expiry
Raw sugar futures on ICE were lower on Wednesday with the expiry of the October contract providing a short-term focus.
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Raw sugar futures on ICE were lower on Wednesday with the expiry of the October contract providing a short-term focus.
ICE Arabica futures fell 2.2% to $2.8245 per lb by 1252 GMT, reversing Monday’s 3.6% gain on signs of growing Brazilian supplies; Robusta slipped and cocoa and sugar moved lower/higher.
Arabica coffee futures steadied, down 0.1% to $2.8845 per lb at 0933 GMT, while sugar and cocoa rose; Brazil coffee exports are set for a record September with shipments 34% higher y/y.
Sugar lost 0.7% to 17.37 cents per lb by 1437 GMT after trading higher earlier. White sugar rose 0.4% to $504.70 a metric ton; cocoa and coffee also gained.
London cocoa futures dropped 2.5% to £3,863/ton by 1050 GMT, hitting a 7½-week low of £3,799, as supply outweighed demand; sugar and coffee also declined.
Arabica coffee futures fell on Thursday, while sugar and cocoa prices also declined. ICE US KC1 fell 1.2% to $2.7805 per lb by 1040 GMT after a 10-week low on Wednesday.
Raw sugar futures fell 4% to 17.98 cents per lb, while arabica coffee hovered near 10-week lows as ICE exchange stocks were set to rise.
Raw sugar ICE US (SB1) fell 1.5% to 18.45 cents per lb, while arabica coffee hovered near 10-week lows.
ICE raw sugar futures for SB fell 0.2% to 18.04 cents per lb by 1206 GMT after 16-month peaks last week. Arabica coffee hit fresh five-week lows.
Coffee futures slip after hitting multi-week highs