US MIDDAY: cocoa and sugar down

US cocoa futures closed at a 4-1/2-month low early on Monday as cocoa continued to flow out of top grower Ivory Coast after an export ban was lifted, while raw sugar also dropped. The key July raw sugar contract tumbled 0.90 cent, or 4 percent, to settle at 21.51 cents per lb.
July arabica coffee futures rose 3.40 cents, or 1.3 percent, to end at $2.6255 per lb. Key July cocoa futures dropped $37 to settle at $2,865 per tonne, the lowest settlement for the spot contract since January 7.