ICE arabica coffee futures fell on Tuesday, pressured by a weaker Brazilian currency and as producers hedged supplies and speculators unwound long positions, while raw sugar edged up from a one-month low. December arabica coffee settled down 1.4 cents, or 1.4 percent, at 97.1 cents per lb, extending losses from the prior session.
Dealers pointed to selling by Brazilian producers, who were encouraged by the top grower's real currency extending losses on Tuesday. November robusta coffee settled down $6, or 0.4 percent, at $1,507 per tonne. October raw sugar settled down 0.02 cent, or 0.19 percent, at 10.36 cents per lb, a day after plunging to a one-month low.
December white sugar settled down 20 cents, or 0.06 percent, at $317.50 per tonne. December London cocoa settled down 34 pounds, or 2.1 percent, at 1,563 pounds per tonne. December New York cocoa settled down $40, or 1.8 percent, at $2,195 per tonne, after rallying more than 4 percent in the prior session.
Comments
Comments are closed.