US cocoa futures finished up a shade Monday, reversing after dropping to a 10-week low, while raw sugar and arabica coffee closed lower. July coffee dropped 1.75 cents to settle at $1.3255 per lb. Arabica coffee futures fell in moderate volume on outside market pressure as the commodity complex and stock markets dropped. Long liquidation on persistent fears that the economic problems in the euro zone will stifle global growth, said traders.
ICE certified arabica stocks at 2,369,201 bags by May 14, down 5,630 bags, with 5,630 bags pending grading. The key July raw sugar contract fell 0.24 cent to finish at 13.89 cents per lb. Raw sugar futures started the day higher on earlier support from firm white sugar futures, said traders.
July cocoa futures inched up $2 to close at $2,814 per tonne after hitting a session low at $2,767 which marked the cheapest for the spot contract since March 3. US cocoa fell along with the commodity complex, breaking through key support for July at $2,800 and hitting a 10-week low.
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