Arabica coffee jumps by 3.6% on ICE, raw sugar also rises with weaker dollar in Brazil
Sugar
Raw Common Coffee Bean
Brazil
United States
Published Aug 11, 2022
Tridge summary
Arabica coffee futures rose more than 3% and ICE raw sugar maturities hit their highest level in more than two weeks on Wednesday, fueled by concerns over crop prospects in the European Union and China.
Original content
NEW YORK/LONDON (Reuters) - Arabica coffee futures rose more than 3% and ICE raw sugar maturities hit their highest level in more than two weeks on Wednesday, fueled by concerns over crop prospects. in the European Union and China. A weaker dollar also helped to support US dollar commodity prices. SUGAR * October raw sugar closed up 0.3 cents, or 1.7%, at 18.28 cents a lb, after peaking at 18.40 cents – the highest level for the first month since the 22nd of July. * Dealers said supporting factors include concerns that hot, dry weather could reduce production in the European Union and flood warning forecasts in China. *Earnings were limited, however, by the Center-South Brazil production report from the Unica mills representative, showing sugar production and cane crushing above market expectations. * October white sugar rose $7.10, or 1.3%, to $549.70 a tonne. COFFEE * September Arabica coffee closed up 7.7 cents, or 3.6%, at $2.2045 a lb as the market continued to gain support ...
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