Arabica futures finished lower for the third straight day on Friday, after hitting a 34-year high on Tuesday, closing the week down for the first time in five weeks as the commodity complex reversed lower. The key July raw sugar contract eased 0.39 cent or 1.9 percent to settle at 20.47 cents. It was the weakest settlement for the spot contract since August 31, 2010. On the week, the market is down 12.44 percent.
July arabica coffee futures inched down 0.70 cent to close at $2.8755 per lb. Second-position closed the week down 4.1 percent, the first weekly move lower in five weeks. Key July cocoa futures rose $27, or 0.9 percent, to finish at $3,082 per tonne. Market closed the week down a heavy 7.7 percent, the steepest weekly loss in seven weeks.
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