London white sugar futures closed slightly lower on Wednesday, weakened by arbitrage selling with business also featuring booksquaring ahead of the upcoming US holiday, dealers said.
"It has been very quiet. We saw a bit of (white/raws) premium trading but not much else," one dealer said. March whites ended down $1.20 at $346.20 a tonne after holding in a narrow range of $348.00 to $343.50. Total volume was 5,177 lots. Business is expected to be quiet on Thursday and Friday with New York raws shut for the US Thanksgiving holiday.
COFFEE SETS SIX-WEEK LOW: London robusta coffee futures closed weaker on Wednesday, weakened by fund long liquidation with prices dipping to a six-week low, dealers said.
Benchmark January ended down $11 at $1,433 a tonne after earlier slipping to $1,425, a six-week low for the second position on a continuation basis. Dealers noted prices have fallen by more than 13 percent since soaring to a 7-1/2 year high of $1,653, basis the second month, less that two weeks ago.
Total volume was 11,573 lots.
COCOA MARGINALLY UP: London cocoa continued to hold within its recent trading range, dealers said. December ended five pounds higher at 814 pounds a tonne after trading in a narrow range of 815 to 808. Dealers noted the front month on Tuesday had equalled its contract low of 807 pounds, first set on September 19, and the market again found support around that level on Wednesday.
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