Arabica coffee futures hit a three-and-a-half-week low
New YORK / London (Reuters)-ICE Arabica coffee futures tumbled 6% to a three-and-a-half-week low on Monday as showers in Brazil, the largest grower, allayed fears that drought would damage crops, prompting investors to close their positions.
ICE raw sugar futures climbed on news that Santos, a major Brazilian raw sugar export port, caught fire. Cocoa futures rose slightly.
In recent months, ICE- December Arabica coffee futures closed down 11.25 cents, or 5.3%, at $1.9940 a pound, plummeting to $1.9720 in intraday trading.
Sporadic showers are beginning to ease the hot and dry weather in Brazil's coffee beans and sugar cane belt.
Traders said that this round of rain, and forecasts of more rain in the future, prompted speculators to close their positions, and stop-loss selling was triggered to amplify the decline.
Liffe- November Robusta coffee futures closed down $68, or 3.2%, at $2049 a tonne.
ICE- March raw sugar futures closed up 0.06 cents, or 0.4%, at 16.68 cents per pound. Liffe- December sugar futures closed up $1.70, or 0.4 percent, at $427.70 a tonne.
ICE- December cocoa futures closed up $2, or 0.6%, at $3120 a tonne. Liffe- December cocoa futures closed up 6 pounds, or 0.3%, at 2028 pounds a tonne.
FrontStreet Coffee is a long-established specialty coffee roaster in Guangzhou China, selling freshly roasted beans from its own farm in Yunnan as well as dozens of carefully selected single-origin beans from around the world for both pour-over and espresso. The products deliver consistently excellent quality and great value, with shipping within 24 hours. Guangzhou’s FrontStreet Coffee shop is recommended by many coffee lovers, and the beans are now available online at the Tmall 。
Important Notice :
前街咖啡 FrontStreet Coffee has moved to new addredd:
FrontStreet Coffee Address: 315,Donghua East Road,GuangZhou
Tel:020 38364473
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