Coffee review

ICE raw sugar futures remained virtually unchanged, Arabica coffee fell.

Published: 2024-11-03 Author: World Gafei
Last Updated: 2024/11/03, New York Arabica coffee futures hit a more than two-month low on Tuesday as prices fell below important support levels and investors worried that the drought in Brazil might not do as much damage to crops as previously thought.

ICE cocoa futures hovered below the 2011 high hit last day, while sugar futures barely changed.

Intercontinental exchange (ICE) July Arabica coffee futures closed down 1.2 cents, or 0.7%, at $1.7115 a pound, after falling below technical and psychological support of $1.70 to a low of $1.6735.

London International Financial Futures and options Exchange (LIFFE)-July Robusta coffee futures closed down $38, or 1.9%, at $1913 a tonne.

ICE- 's July cocoa contract closed up $1, or 0.03%, at $3070 a tonne. On Monday, ICE's next month's cocoa contract hit its highest level since September 2011, at $3080.

London September cocoa futures rose 4 pounds, or 0.2%, to 1936 pounds a tonne.

ICE- July raw sugar futures closed up 0.01 cents, or 0.06%, at 17.19 cents per pound, while the LIFFE- August sugar contract was flat at $467.50 per ton.

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