New York Futures: Arabica Coffee Futures rise, Cocoa Futures fall
New YORK / London Nov 25 (Reuters)-Arabica coffee futures rose in volatile trading on Tuesday, the biggest one-day gain in a week, as investors took a wait-and-see attitude before Brazil's 2016 harvest outlook became clearer. Technical factors dominate the market. Cocoa futures recorded their biggest one-day drop in nearly two weeks.
Raw sugar futures closed basically stable, and the previously released Brazilian sugar cane crushing data were in line with expectations.
Trading volume in soft goods markets was generally below average before the U.S. market was closed for the Thanksgiving holiday on Thursday, according to preliminary Thomson Reuters data.
ICE- March Arabica Coffee Futures (KCc2) closed up 4.55 cents, or 2.4%, at $1.9505 a pound, following a late buying spree after the contract broke through the key moving average.
"the market has held its [technical] support and, fundamentally, supply has been reduced," said Jack Scoville, vice president of Price Futures Group.
January Robusta coffee futures (LRCc2) closed down $4, or 0.2%, at $2095 a tonne.
In the cocoa market, ICE- March New York cocoa futures (CCc2) closed down $42, or 1.5%, at $2824 a tonne, prompting investors to close their positions as the technical and fundamental outlook became increasingly bearish.
ICE- March London cocoa futures (LCCc2) closed down 20 pounds, or 1.1%, at 1873 pounds per tonne.
ICE- March Raw Sugar Futures (SBc1) closed flat at 16 cents per pound, fluctuating in intraday trading, falling after jumping 1.3%.
ICE- March sugar futures (LSUc1) closed down $1.90, or 0.5%, at $415.80 a tonne.
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The reduction in overseas production has led to a big increase in exports. Yunnan Coffee and beans are soaring in quantity and price.
Affected by extreme weather, the global supply and demand of coffee beans, the raw material of coffee, has been challenged this year. Multi-party data show that due to the main producing areas of coffee beans, such as Brazil, affected by drought, diseases and insect pests and other factors, coffee bean production has dropped sharply this year, resulting in coffee beans in short supply and prices showing an upward trend. At present, it has also entered the picking season of domestic coffee beans. Yesterday (November 25), coffee in Yunnan Province
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Green Train Cafe in Hankou River attracts tourists with nostalgic style
Yesterday, a message called the first green locomotive cafe in Wuhan quietly spread in moments, with 20,000 views of the message on a well-known WeChat account alone. For this reason, the reporter specially went to the beach to find out. Not far from the gate of Yuehan Wharf on the beach of Hankou is the stop point of this green locomotive. Dozens of meters of railway tracks covered with gravel are decorated with spray paint.
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