Investing.com - U.S. soft futures were mixed in rangebound trade on Monday, with sugar prices hovering near the previous session’s a two-month low as investors continued to focus on massive global supplies of the sweetener.
On the ICE Futures U.S. Exchange, sugar futures for March delivery traded at USD0.1743 a pound, down 0.3%. Prices of the sweetener traded in a range between USD0.1742 a pound, the daily low and a session high of USD0.1748 a pound.
The March contract fell to USD0.1733 a pound on Friday, the lowest since September 24, before settling at USD0.1740 a pound, down 0.63%.
Sugar prices have been on a downward trend in recent weeks as investors focused on massive global supplies of the sweetener.
The International Sugar Organization raised its forecast for a global surplus of 4.7 million tonnes in the 2013-14 crop year that began on October 1, up from a previous estimate of 4.5 million tonnes.
Elsewhere, Arabica coffee for March delivery traded at USD1.0723 a pound, down 0.05%. The March Arabica contract held in a range between USD1.0653 a pound, the daily low and a session high of USD1.0798 a pound.
The March contract rallied to USD1.1200 a pound on Friday, the strongest level since October 23, before ending down 3.5% to settle at USD1.0750 a pound.
Coffee prices have been under heavy selling pressure in recent months, as traders monitored improving crop prospects in Brazil and Colombia.
Coffee prices slumped to USD1.0100 a pound on November 7, the lowest since October 19, 2006.
Meanwhile, cotton futures for March delivery traded at USD0.7763 a pound, up 0.5%. Cotton prices traded in a range between USD0.7726 a pound, the daily low and a session high of USD0.7788 a pound.
The March contract ended down 1.43% on Friday to settle at USD0.7723 a pound.
On the ICE Futures U.S. Exchange, sugar futures for March delivery traded at USD0.1743 a pound, down 0.3%. Prices of the sweetener traded in a range between USD0.1742 a pound, the daily low and a session high of USD0.1748 a pound.
The March contract fell to USD0.1733 a pound on Friday, the lowest since September 24, before settling at USD0.1740 a pound, down 0.63%.
Sugar prices have been on a downward trend in recent weeks as investors focused on massive global supplies of the sweetener.
The International Sugar Organization raised its forecast for a global surplus of 4.7 million tonnes in the 2013-14 crop year that began on October 1, up from a previous estimate of 4.5 million tonnes.
Elsewhere, Arabica coffee for March delivery traded at USD1.0723 a pound, down 0.05%. The March Arabica contract held in a range between USD1.0653 a pound, the daily low and a session high of USD1.0798 a pound.
The March contract rallied to USD1.1200 a pound on Friday, the strongest level since October 23, before ending down 3.5% to settle at USD1.0750 a pound.
Coffee prices have been under heavy selling pressure in recent months, as traders monitored improving crop prospects in Brazil and Colombia.
Coffee prices slumped to USD1.0100 a pound on November 7, the lowest since October 19, 2006.
Meanwhile, cotton futures for March delivery traded at USD0.7763 a pound, up 0.5%. Cotton prices traded in a range between USD0.7726 a pound, the daily low and a session high of USD0.7788 a pound.
The March contract ended down 1.43% on Friday to settle at USD0.7723 a pound.