Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Wednesday. December arabica coffee contract rose 0.90 cent to $1.2550 per lb at 11:14 am EDT (1514 GMT). Session range from $1.2430 to $1.2610. Arabica futures inched higher in thin dealings amid a lack of selling interest, while light investor buying on the weak dollar helped push the market upward, said brokers.
October raw sugar contract rose 0.29 cent to 21.16 cents per lb at 11:14 am Trading range from 20.63 to 21.23 cents. Sugar staged a modest surge on investor short-covering, but market now trading in a band running from 20.50 to 22 cents and waiting for signs it will rally anew and challenge 25 cents. Switch trade seen as players roll out of the October contract, said traders.
Benchmark December cocoa contract jumped $77 or 2.6 percent to $3,030 per tonne by 11:15 am. Session range from $2,954 to $3,046, the highest level for the second position since July 2008. Market jumped on fund and investor buying that triggered buy-stops, while the firm sterling also provided support, said traders.
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