US MIDDAY: cocoa and coffee jump, sugar down

29 May, 2009

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Thursday. July arabica contract reversed up 1.20 cents to $1.3670 per lb at 11:08 am EDT (1508 GMT). Session range from at $1.3305 to $1.3715. July raw sugar contract down 0.08 cent at 15.69 cents per lb at 11:09 am.
Wide trading range from 15.50 to 15.77 cents. Continued to correct lower after jumping to a near three-year high Tuesday, with some viewing the market as overbought, said traders. Benchmark July cocoa contract surged $74 or 3 percent to $2,583 per tonne at 11:09 am Session range from $2,476 to $2,590, the highest since April 13.

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