US cocoa futures slumped to close down 4 percent at a three-week low Tuesday, while arabica coffee surged and raw sugar dipped. July coffee jumped 2 cents to finish at $1.3615 per lb, trading within Friday's session band. Arabica futures bucked the day's weak trend in commodities, heading for the 100-day moving average at $1.3765 in the July.
July contract remained within recent range of $1.30 to $1.39. The key July raw sugar contract fell 0.27 cent or 1.9 percent to close at 13.91 cents per lb. July cocoa futures sank $126 or 4.1 percent to settle at $2,951 per tonne, the lowest finish for the second position since April 19.