ICE sugar futures fall to June 2010 lows Arabica coffee futures plummet
New YORK / London (Reuters)-Intercontinental Exchange (ICE) raw sugar futures fell to a more than four-year low on Wednesday, hit by recent sugar supplies in Brazil, the country's sugar harvest rate is at its peak and global inventories are abundant.
ICE Arabica coffee futures posted their biggest one-day decline since May due to technical weakness. Cocoa futures continue to decline from more than three-year highs.
ICE- October sugar futures earlier hit a low of 14.43 cents since June 2010. the contract closed down 36 cents, or 2.4%, at 14.52 cents.
Trading volume increased after prices fell below January lows, with more than 206000 changing hands, more than double the 250-day average, according to preliminary Reuters data.
London International Financial Futures and options Exchange (LIFFE)-October sugar futures fell $9, or 2.2%, to close at $396.60 a tonne, hitting a contract low of $394.90.
ICE- December Arabica coffee futures fell 11.35 cents, or 5.9 percent, to close at $1.8125 a pound.
LIFFE- November Robusta coffee futures closed down $50, or 2.4%, at $2018 a tonne.
ICE- December cocoa futures fell $16, or 0.5%, to close at $3063 a tonne. Liffe- December cocoa futures fell 7 pounds, or 0.4%, to 1988 pounds per tonne.
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