US MIDDAY: sugar drops

12 Jul, 2011

ICE raw sugar futures fell early on Monday as a stronger dollar, along with concerns that the eurozone debt crisis was worsening, weighed on commodity prices. October raw sugar on ICE was off 0.18 cent or 0.6 percent at 29.18 cents a lb at 1449 GMT, paring earlier losses after dipping to 28.64 cents.
September cocoa futures on ICE fell $34 to $3,055 a tonne. The contract remained above the near five-month low of $2,868 hit in June. September arabica coffee futures on ICE fell 5.8 cent or 2.2 percent to $2.5740 per lb. The contract peaked at $2.7190 on Thursday, the highest level for the second month since June 15.

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