US MIDDAY: coffee and sugar lower

Coffee and sugar futures settled lower on Monday, weighed upon by broad-based losses in commodity markets as investors became more averse to risk in the aftermath of Japan's catastrophic earthquake and tsunami. May arabica coffee on ICE closed 1.10 cents lower at $2.7330 per lb, down for the third straight day after hitting a 34-year high at $2.9665 per lb last week.
May cocoa on ICE fell $23 to settle at $3,389 a tonne, after spending much of the session in positive territory. May raw sugar on ICE tumbled 1.07 cents to finish at 27.79 cents per lb, after hitting a 3-1/2-month low at 27.41 cents.