ICE raw sugar futures rose slightly on May 28th, while coffee futures fell.
Coffee futures in New York and London fell to multi-month lows on Wednesday as speculators pulled out of long positions and coffee futures prices fell below important technical levels as harvesting accelerated in major growing areas.
ICE cocoa futures remained near last day's 32-month high on Wednesday, while raw sugar futures rose slightly.
New York and London coffee futures both fell below their 100-day moving averages on Wednesday.
ICE- July Arabica coffee futures closed down 4.85 cents, or 2.7%, at $1.745 a pound, after falling to a two-month low of $1.708 and breaking below the 100-day moving average of $1.7242.
London International Financial Futures and options Exchange (LIFFE)-July Robusta coffee futures fell $77, or 3.9%, to $1907 a tonne, falling below the 100-day moving average of $1965 and hitting $1903, the lowest since February.
ICE- 's July cocoa contract closed down $2, or 0.07%, at $3029 a tonne. London September cocoa futures closed up 5 pounds, or 0.3%, at 1911 pounds a tonne.
ICE- July raw sugar futures rose 0.11 cents, or 0.6%, to 17.13 cents per pound. The Liffe- August Sugar contract (4818, 36.00,0.75%) rose $2.10, or 0.5%, to close at $467.40 a tonne.
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Brief introduction of International Coffee Organization
The International Coffee Organization is an intergovernmental organization founded in London in 1963. It is composed of coffee importers and exporters. The organization is responsible for implementing the International Coffee Convention and is committed to improving the situation of the world coffee industry through international cooperation. The establishment of the International Coffee Organization is based on the irreplaceable economic importance of coffee. Coffee is one of the most traded goods in the world.
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Targeting the great growth of China's coffee market in 2011
Australia flooded in early January, and wine has risen this year because the disaster area is an important grape origin. Even without natural disasters, chateau wines with collectible value have been rising for more than a decade. The Japanese cartoon "Shenzhi" details the various flavors of wine, how to preserve and match dishes, and even the situation of the drinker should be taken into account. To put so much effort into it is to complete one.
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