Raw sugar futures on ICE tumbled in thin dealings early on Thursday, on stop-loss sales and investment liquidation as ample supplies and a dearth of cash interest finally took its toll on the sweetener. ICE raw sugar futures had been rangebound since the October contract hit Monday's high of 31.68 cents a lb, but attracted a wave of selling after falling below recent session lows.
Recently, the market has been underpinned by consecutive revisions lower to Brazilian output. October raw sugar on ICE sank 1.09 cents, or 3.5 percent, to 30.04 cents per lb by 1:15 pm EDT (1715 GMT) September arabica coffee on ICE fell 2.30 cents, or 2.3 percent, to $2.3890 per lb, after falling to a six-month low at $2.3720. September cocoa on ICE fell $62, or 2 percent, to close at $2,974 a tonne.
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