US cocoa futures dropped to a one-month low early Friday, while raw sugar also dropped and arabica coffee inched upward in sideways dealings. Arabica coffee futures inched up in sideways dealings as the market lacked firm direction ahead of the main Brazil harvest, said traders. ICE certified arabica stocks at 2,374,831 bags by May 13, down 5,484 bags, with 3,820 bags pending grading.
Sugar sags on investor sales, but market in a band on modest volume. Raw sugar futures on track to post its first weekly gain in 13 weeks. US cocoa futures fell to the lowest since April 15, on follow-through pressure and weakness in the pound that was down earlier in the session.
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