ICE arabica coffee futures rose on Tuesday in thin trading ahead of the upcoming Christmas holiday, regaining some ground after the prior session's steep decline.
Trade in London-based robusta coffee, white sugar and cocoa contracts wrapped up after a shortened session and will reopen on Friday. U.S. contracts will resume trading on Thursday.
COFFEE
March arabica coffee settled up 3.3%, or 4.10 cents, to $1.294? per lb. The contract had fallen by more than 4% on Monday.
Conditions remained volatile with the recent sharp advance to the highest level in more than two years followed by a rapid setback during the last few days.
March robusta coffee ended $23, or 1.7%, higher at $1,358 a tonne. Ivory Coast announced an unchanged guaranteed minimum price for coffee farmers of 700 CFA francs ($1.19) per kilogramme for the 2019-2020 season, state television said on Monday.
SUGAR
March raw sugar settled lower 0.6%, or 8 cents, to $13.37?? cents per lb.
Dealers said the market was consolidating after climbing to a peak of 13.67 cents on Dec. 13, the highest level for the front month in more than one year.
March white sugar ended $1.50, or 0.4%, higher at $359.10 a tonne.
COCOA
March New York cocoa settled up 0.7%, or $16.00, to $2,443 per tonne. The front month fell to a seven-week low of $2,388 on Monday. Top cocoa producer Ivory Coast has issued an arrest warrant for Guillaume Soro, a former rebel leader and candidate in next year's presidential election, four government sources said on Monday. March London cocoa ended down 6 pounds, or 0.3%, at 1,762 pounds a tonne.
Comments
Comments are closed for this article.