Arabica coffee futures jumped early Wednesday, while raw sugar inched higher and US cocoa turned down. Arabica coffee futures jumped to an eight-day high as the commodity complex and world stock markets bounced. July arabicas rose 1.55 cent or 1.2 percent to $1.3430 per lb.
Generally favourable crop conditions forecast in top coffee grower Brazil through Sunday, with no damaging cold in sight, said Telvent DTN. Raw sugar futures inched higher in sideways dealings, following crude oil and the commodity complex up.
ICE July raw sugar futures were up 0.01 cent or 0.07 percent at 15.26 cents a lb at 1432 GMT. New York sugar futures July contract is expected to rise more to 16.20 cents a lb as it climbs within a rising channel, said Reuters analyst Wang Tao. US cocoa futures retraced Tuesday's gains, feeling pressure from the weak pound against the US dollar in heavy volume. July cocoa on ICE fell $26 or 0.9 percent to $2,896 a tonne.
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