Summaries of the ICE Futures US cocoa, coffee and sugar markets. March arabica contract jumped 5.25 cents or 3.9 percent to $1.4120 per lb at 11:09 am EST (1609 GMT). Session range from $1.36 to $1.4140. Arabica coffee turned soared on the heals of the strong commodity complex and on buying interest due to the weak dollar, said brokers.
March raw sugar contract soared 0.73 cent or 2.7 percent to 27.68 cents per lb at 11:09 am. Trading range from 27 to 27.83 cents, the highest for the spot contract since February 1981.
Sugar climbed on fund buying and support from the weak dollar and strong crude oil futures, with eyes set on key resistance at 30 cents per lb, basis March, said traders. Benchmark March cocoa contract fell $27 to $3,262 per tonne at 11:10 am. Trading range from $3,245 to $3,311.
Comments
Comments are closed.