US MIDDAY: coffee, sugar drop

21 Nov, 2009

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Friday. March arabica coffee contract eased 0.70 cent to $1.3635 per lb at 11:05 am EST (1605 GMT). Session range from $1.3485 to $1.3790. Futures dipped on pressure from the strong dollar, said brokers. March raw sugar contract eased 0.37 cent to 22.37 cents per lb at 11:06 am.
Trading range from 22.23 to 23 cents. Sugar sagged on investors sales, but volume was fairly light, said traders. Benchmark March cocoa contract jumped $95 or 3 percent to $3,292 per tonne at 11:07 am. Trading band from $3,175 and $3,319. US cocoa jumped on the heels of the London market, which soared on options-related buying, said analysts.

Read Comments