US MIDDAY: sugar sinks, coffee up

02 Oct, 2009

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Thursday. December arabica coffee contract gained 0.40 cent to $1.2820 per lb at 11:09 am EDT (1509 GMT). Session range from $1.2590 to $1.2975. Arabica coffee futures reversed higher after bouncing up from support at the session lows, said brokers.
March raw sugar contract sank 0.83 cent or 3.3 percent to 24.56 cents per lb at 11:07 am. Trading range from 24.50 to 25.37 cents. Sugar stumbled on sales induced by a firmer dollar, hitting automatic sell orders on the way down although it stabilised near 24.50 cents, basis March, said traders.
Benchmark December cocoa contract eased $27 to $3,113 per tonne by 11:10 am. Session range from $3,101 to $3,155. Fluctuated on both sides of unchanged in sideways dealings as the market eyed the recent 14-1/2-month high, said traders.

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