Cocoa futures on ICE Futures US fell to an 8-day low on origin selling in early trading Tuesday, while arabica coffee crept into negative territory after surging up a 2-1/2-year peak Monday, traders said. "Cocoa is flowing and causing this stir, then below $1,995 stops were hit," one cocoa trader said about the key December contract.
ICE electronic December cocoa was down $30 at $2,000 per tonne at 9:19 am EDT (1319 GMT), with trades spanning $2,030 to $1,984 which marked a low last seen September 24. The rest retreated $15 to $24. In the open-outcry pit, December cocoa was down the same at $2,000 at 9:20 am, in dealings from $2,010 to $1,984.
On the screen, ICE December coffee inched down 0.10 cent to $1.3475 per lb at 9:21 am, in a trading range from $1.3405 to $1.3550. One contract aside, the rest ranged 0.15 to 0.40 cent lower. In the pit, benchmark December was down 0.25 cent at $1.3460 at 9:23 am, moving from $1.3420 to $1.3540.
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