Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Soft futures; ICE coffee trades near 10-week low

Published 06/05/2014, 07:37 AM
Updated 06/05/2014, 07:37 AM
ICE coffee trades near 10-week low

Investing.com - Coffee prices were little changed near the previous session’s ten-week low on Thursday, as investors continued to monitor crop and weather conditions in Brazil.

Brazil is the world's largest producer and exporter of Arabica coffee. The bulk of country's Arabica crop is expected to begin harvest in June, when a clearer picture of damage is expected.

On the ICE Futures Exchange, Arabica coffee for July delivery eased up 0.06% to trade at $1.6953 a pound during U.S. morning hours.

The July coffee contract fell to $1.6735 on Wednesday, the lowest since March 24, before paring losses to settle at $1.7020, down 0.56%.

Coffee futures have been on a downward trend in recent weeks amid indications global supplies might be on the rise despite uncertainties posed by drought in Brazil.

Meanwhile, U.S. sugar for July delivery edged up 0.29% to trade at $0.1705 a pound. The July contract ended Wednesday’s session down 0.87% to settle at 0.1704 a pound.

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.

Elsewhere, U.S. cotton for July delivery shed 0.24% to trade at $0.8587 a pound. The July cotton contract tumbled 1.47% on Wednesday to settle at $0.8608 a pound.

According to the U.S. Department of Agriculture, nearly 62% of the U.S. cotton crop was planted as of last week, improving from 46% planted in the preceding week.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.