Soft futures mixed; Sugar falls to fresh 3-year low
Investing.com
Published Jul 15, 2013 07:46AM ET
On the ICE Futures U.S. Exchange, sugar futures for October delivery traded at USD0.1605 a pound, down 0.2% on the day.
The October contract fell by as much as 0.3% earlier in the day to hit a session low of USD0.1604 a pound, the weakest level since July 2, 2010.
Brazilian industry group Datagro said earlier in the months that the country's main growing region is likely to produce 35.3 million metric tons of sugar in the current season, more than the 34.1 million tons of sugar produced last season
Brazil is the world's largest sugar producer and exporter, with the U.S. Department of Agriculture estimating the nation accounts for nearly 20% of global production and 39% of global sugar exports.
Meanwhile, Arabica coffee for September delivery traded at USD1.1933 a pound, up 0.2% on the day.
The September contract held in a tight trading range between USD1.1898 a pound, the daily low and a session high of USD1.1988 a pound.
Coffee prices fell 3.5% on Friday to hit a two-week low of USD1.1880 a pound, as traders eyed a huge harvest in top grower Brazil.
Elsewhere, cotton futures for December delivery traded at USD0.8499 a pound, down 0.1% on the day. The December contract traded in a range between USD0.8453 a pound, the daily low and a session high of USD0.8513 a pound.
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Written By: Investing.com
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