US MIDDAY: sugar lower

Sugar and coffee futures reversed down on Wednesday, as investors were cautious over the outlook for global economic growth and world stocks neared five-month lows. "The macro (economic picture) is not pretty so commodities in general are slumping," one US dealer said.
October raw sugar on ICE eased 0.47 cent, or 1.7 percent, at 27.69 cents a lb at 12:10 pm EDT (1610 GMT). September cocoa on ICE fell $17 to close at $2,916 a tonne, the lowest settlement since June 16. Total open interest exceeded 178,000 lots by August 2, the highest in 3-1/2 years, ICE data showed. September arabica coffee on ICE eased 1.45 cent, or 0.6 percent, to $2.4175 per lb.