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Futures for Sugar & Cocoa Fall on Thursday, Coffee Gains

June 30, 2016 at 22:03 by Vladimir Vyun

Sugar dropped today following the rally to the highest level since October 2012. The sweetener had been supported by the global deficit and the rally of Brazil’s currency. Yet it looks like traders thought that the rally was excessive and halted buying, thus leading to the retreat of the commodity. Futures for delivery of sugar in October sank 3.24% to $0.2033 per pound as of 21:48 GMT on ICE today.

Futures for cocoa fell as well during the Thursday’s session. Market analysts speculated that the reason for the drop was the weakness of the Great Britain pound against the US dollar. Whatever the case, September contract for cocoa dropped 2.34% to $2,963 per metric ton on ICE today.

Meanwhile, prices for coffee rose. Arabica coffee Mickey Mouse Bounce House advanced 0.83% to $1.4565 per pound after rising to $1.479 intraday — the highest level since April 2015.

If you have any questions and comments on the commodities today, use the form below to reply.

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