ICE raw sugar futures hit an one-month level and coffee futures fell due to rainfall in Brazil.
New YORK / London (Reuters)-Intercontinental Exchange (ICE) raw sugar futures hit an one-month high on Wednesday, while Arabica coffee futures fell on expectations that rains in Brazil will ease pressure on sugar and coffee crops in Brazil.
Cocoa futures in New York fell on spread trading and strong supply in West Africa.
ICE- March raw sugar futures closed down 0.17 cents, or 1.1%, at 15.51 cents a pound, close to an intraday low of $15.50.
Rainfall in sugarcane-growing areas in south-central Brazil for the rest of the week "will improve soil moisture," US weather service company MDA Weather Services said in a daily report.
London International Financial Futures and options Exchange (LIFFE) December sugar futures expiring on Nov. 14 closed down $1.70, or 0.4%, at $415 a tonne.
ICE- March Arabica coffee futures KCZ5 >, the most actively traded, closed down 1.95 cents, or 1%, at $1.9055 a pound, close to an one-month low of $1.840 hit on Tuesday.
Rainfall in Brazil has slightly improved the growth prospects of crops next year, but the market is still worried about the impact of dry weather in Brazil earlier this year on crops.
LIFFE- January Robusta coffee futures fell $14, or 0.7%, to close at $2026 a tonne.
ICE- March cocoa futures closed down $7, or 0.2%, at $2870 a tonne. Liffe- March cocoa futures closed down 1 pound, or 0.05%, at 1878 a tonne.
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Severe loss of coffee production caused by drought in Brazil is expected to be reduced by 30%.
According to a report on the website of Brazilian newspaper Le Sao Paulo on November 3, in a plantation in Eloy Mendes (southern state of Minas Gerais), Jean Philippe, a 25-year-old agricultural technician, measured the height of a 2-year-old coffee tree with a ruler. The result is 80 cm, but if Minas Gerais has sufficient rainfall this year, the normal height of the coffee tree should reach 1.3.
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Elephant dung coffee at $1100 per kilogram
Recently, some people have developed shit-like coffee, which is very expensive. Don't dislike me, poop is very useful! Recently, someone has developed an elephant shit coffee that sells for as much as US $1100 per kilogram, which is said to beat the US $400 Indonesian Kopi Luwak. Many people may not have thought that the feces of many kinds of animals are treasures. Maybe one day, you will use perfume made from animal dung and drink coffee made from animal dung.
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