Arabica coffee futures tumbled raw sugar futures hovered above 2010 lows
New YORK / London (Reuters)-Arabica coffee futures tumbled 4 percent to a 13-month low on Monday as the Brazilian real continued to weaken and the market renewed a wave of massive speculative selling.
Raw sugar futures also fell, nearing their lowest level since 2010. Cocoa futures continued to decline in quiet trading.
Data released on Friday showed that the recent decline in Arabica coffee futures was due to speculative selling, as non-commercial investors turned into net short positions as of March 3 for the first time in 13 months.
ICE- may Arabica coffee futures closed down 2.90 cents, or 2.1%, at $1.37 a pound and tumbled 4.1% to $1.3415, above a 13-month low of $1.2880 hit last week.
The weakness of the Brazilian real attracts speculators to sell while the technical side is still weak, and rain in growing areas has also increased market pressure, traders said.
ICE- may Robusta coffee futures closed down $10, or 0.5%, at $1871 a tonne.
Raw sugar futures also fell, with the May contract closing down 0.17 cents, or 1.3%, at 13.27 cents at the pound, slightly higher than the lowest 13.18 cents hit last week since May 2010.
May sugar futures fell $3.40, or 0.9%, to close at $370.80 a ton.
In may, new York cocoa futures closed down $11, or 0.4%, at $2934 a tonne, the fourth day in a row.
London cocoa futures fell 11 pounds, or 0.5%, to close at 2018 pounds a tonne in May.
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Coffee volatility tops the world, and this week will usher in a critical period of rebound.
Last week, the trend of Shanghai 50ETF is still within the downward channel since the beginning of the year, although there are slight signs of improvement on Friday, it has not yet stood on the 20th line, which may become the key to the rebound today. But if Monday's opening falls below Friday's lowest price, there is a decline or a high probability of an event. Since the listing of 50ETF options, the implied volatility of the March option contract is basically lower than the historical volatility of the subject matter.
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KFC restaurant launches 10 yuan a cup of freshly ground coffee
Recently, KFC started selling freshly ground coffee series products in more than 160 restaurants in Guangzhou, starting at 10 yuan. This is the third city to open after Shanghai and Beijing. According to reports, in 2015, KFC will launch the freshly ground coffee series in 1000 restaurants in no less than 20 cities. KFC's freshly ground coffee series uses 100% Arabica coffee beans, each cup
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