Soft commodity futures were mixed Thursday in very modest business as players took a breather after the market rallied sharply earlier in the week, analysts said. US cocoa fell for the first time in five sessions, coffee rowed back after ending at a 13-1/2 year high on Wednesday, and sugar was slightly firmer as traders sought confirmation that India will ship all of the 500,000 tonnes it has permitted for export.
The March raw sugar contract rose 0.04 cent to close at 32.06 cents per lb. The March arabica coffee contract on ICE Futures US dropped 3.10 cents to close at $2.375 per lb. New York's March cocoa contract eased $7 to finish at $2,952 per tonne. London's May cocoa contract lost 18 pounds to close at 1,967 pounds per tonne. Analysts said the outlook for sugar remained bullish, given tight supplies and worries India's sugar exports will be reduced further in the weeks ahead.
Comments
Comments are closed.