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  • Jan 30th, 2010
  • Comments Off on US MIDDAY: sugar soars near 29-year high
Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Friday. March arabica coffee contract down 0.60 cent at $1.3235 per lb at 11:04 am EST (1604 GMT). Session range from $1.3390 to $1.3160 which marked the lowest for the spot contract since November 13. Arabica coffee fell to a 2-1/2-month low for the third straight session on chart weakness and a strong dollar, said brokers.

March raw sugar contract jumped 0.84 cent or 2.9 percent to 29.84 cents per lb at 11:04 am. Ranging 29.12 to 30 cents. Sugar bucked the firmer dollar to rally on investment fund buying as market gears up for another challenge of 29-year highs over 30 cents, said dealers. Benchmark March cocoa contract fell $43 to $3,217 per tonne at 11:05 am. Trading from $3,205 to $3,287.

Copyright Reuters, 2010


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