Investing.com - U.S. soft futures were mixed on Wednesday, with sugar prices trading close to a three-year low as farmers in Brazil started to accelerate harvesting of the nation's sugar crops.
On the ICE Futures U.S. Exchange, sugar futures for October delivery traded at USD0.1631 a pound, down 0.25% on the day. The October contract traded in a range between USD0.1625 a pound, the daily low and a session high of USD0.1636 a pound.
Futures fell to a three-year low of USD0.1617 a pound on June 13.
Brazilian industry group Datagro said last week 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 USD1.2235 a pound, up 0.4% on the day.
The September contract traded in a range between USD1.2173 a pound, the daily low and a session high of USD1.2268 a pound.
Coffee prices rose to a four-week high of USD1.2488 a pound on Tuesday, amid speculation coffee exporters in South and Central America were withholding supplies until prices recover.
Elsewhere, cotton futures for December delivery traded at USD0.8573 a pound, down 0.3% on the day. The December contract traded in a range between USD0.8541 a pound, the daily low and a session high of USD0.8597 a pound.
On the ICE Futures U.S. Exchange, sugar futures for October delivery traded at USD0.1631 a pound, down 0.25% on the day. The October contract traded in a range between USD0.1625 a pound, the daily low and a session high of USD0.1636 a pound.
Futures fell to a three-year low of USD0.1617 a pound on June 13.
Brazilian industry group Datagro said last week 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 USD1.2235 a pound, up 0.4% on the day.
The September contract traded in a range between USD1.2173 a pound, the daily low and a session high of USD1.2268 a pound.
Coffee prices rose to a four-week high of USD1.2488 a pound on Tuesday, amid speculation coffee exporters in South and Central America were withholding supplies until prices recover.
Elsewhere, cotton futures for December delivery traded at USD0.8573 a pound, down 0.3% on the day. The December contract traded in a range between USD0.8541 a pound, the daily low and a session high of USD0.8597 a pound.