Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Monday. December arabica coffee contract surged 4.05 cents or 3.2 percent to $1.3060 per lb at 10:59 am EDT (1459 GMT). Wide session range from $1.2510 to $1.3130. Arabica futures reversed sharply higher on fund buying that triggered buy-stops above $1.30 in December delivery, but origin selling capped gains, said brokers.
October raw sugar contract jumped 0.61 cent or 2.9 percent to 21.82 cents per lb at 11:01 am. Wide trading range from 20.85 to 21.90 cents. Investor fund buying and short-covering, and suspected consumer buying after the market again dipped below 21 cents in October delivery. Switch trade also seen as players roll out of spot October, since contract expires in over 2 weeks, said traders. Benchmark December cocoa contract fell $28 to $3,047 per tonne by 11:01 am. Session range from $3,017 to $3,065.
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