AGL 38.02 Increased By ▲ 0.08 (0.21%)
AIRLINK 197.36 Increased By ▲ 3.45 (1.78%)
BOP 9.54 Increased By ▲ 0.22 (2.36%)
CNERGY 5.91 Increased By ▲ 0.07 (1.2%)
DCL 8.82 Increased By ▲ 0.14 (1.61%)
DFML 35.74 Decreased By ▼ -0.72 (-1.97%)
DGKC 96.86 Increased By ▲ 4.32 (4.67%)
FCCL 35.25 Increased By ▲ 1.28 (3.77%)
FFBL 88.94 Increased By ▲ 6.64 (8.07%)
FFL 13.17 Increased By ▲ 0.42 (3.29%)
HUBC 127.55 Increased By ▲ 6.94 (5.75%)
HUMNL 13.50 Decreased By ▼ -0.10 (-0.74%)
KEL 5.32 Increased By ▲ 0.10 (1.92%)
KOSM 7.00 Increased By ▲ 0.48 (7.36%)
MLCF 44.70 Increased By ▲ 2.59 (6.15%)
NBP 61.42 Increased By ▲ 1.61 (2.69%)
OGDC 214.67 Increased By ▲ 3.50 (1.66%)
PAEL 38.79 Increased By ▲ 1.21 (3.22%)
PIBTL 8.25 Increased By ▲ 0.18 (2.23%)
PPL 193.08 Increased By ▲ 2.76 (1.45%)
PRL 38.66 Increased By ▲ 0.49 (1.28%)
PTC 25.80 Increased By ▲ 2.35 (10.02%)
SEARL 103.60 Increased By ▲ 5.66 (5.78%)
TELE 8.30 Increased By ▲ 0.08 (0.97%)
TOMCL 35.00 Decreased By ▼ -0.03 (-0.09%)
TPLP 13.30 Decreased By ▼ -0.25 (-1.85%)
TREET 22.16 Decreased By ▼ -0.57 (-2.51%)
TRG 55.59 Increased By ▲ 2.72 (5.14%)
UNITY 32.97 Increased By ▲ 0.01 (0.03%)
WTL 1.60 Increased By ▲ 0.08 (5.26%)
BR100 11,727 Increased By 342.7 (3.01%)
BR30 36,377 Increased By 1165.1 (3.31%)
KSE100 109,513 Increased By 3238.2 (3.05%)
KSE30 34,513 Increased By 1160.1 (3.48%)

Raw sugar futures on ICE dropped to a seven-year low on Monday due to pressure from a large cane crush in top producer Brazil's main growing region, while arabica coffee had its biggest rally in more than four months on heavy short-covering and spreading.
Cocoa futures eased as prices consolidated after Friday's volatile reversal up from a three-month low.
Sugar and cocoa prices bucked the sharply higher trend in larger commodity markets, with the 19-commodity Thomson Reuters CoreCommodity index up a steep 2 percent as the US dollar turned lower.
Raw sugar futures fell for a fourth straight session, initially weighed on by expectations that data from Unica, Brazil's local milling association, would show a jump in cane crush during the second half of July.
The data, released in the final hour of trade, showed that Brazil's main center-south cane crush surged to 49.44 million tonnes, which was at the top end of expectations.
Prices pared losses as traders focused on the region's low sugar production compared with a year earlier.
October raw sugar on ICE touched 10.37 cents a lb, the lowest since June 2008, before settling down 0.09 cent, or 0.8 percent, at 10.57 cents.
"The crush number came in big as did sugar production, but sugar production is still down 1.629 million tons in relation to last year," said Michael McDougall, director of commodities at Societe Generale in New York.
Also down were the sugar/ethanol mix and sucrose level, and these had not been expected to change much, he added. October white sugar closed down $1.60, or 0.5 percent, at $346.90 a tonne.
September arabica coffee settled up 5.7 cents, or 4.5 percent, at $1.335 per lb as prices breached key Fibonacci levels and the 50-day moving average. Total volume soared above 72,000 lots, more than triple the average, preliminary data showed, as September/December spreading buoyed volume.
Carlos Mera, commodities analyst at Rabobank, said coffee bean sizes in top grower Brazil were smaller than the market had been expecting, underpinning prices.
"The crop is very late and very slow. Farmers have been slower than expected to sell their current crop," Mera added.
September robusta coffee closed up $32, or 1.9 percent, at $1,693 a tonne.
December New York cocoa ended down $12, or 0.4 percent, at $3,109 per tonne, while London December cocoa closed down 14 pounds, or 0.7 percent, at 2,082 pounds a tonne.

Copyright Reuters, 2015

Comments

Comments are closed.