Arabica caffeine profits declined from the 13-month high
YORK August 24 morning news, Arabica coffee futures fell Monday on profit-taking after hitting a near 13 year high. But analysts said the shortage of high-quality coffee beans and coffee bullish technical charts suggest further upside potential futures.
sugar and cocoa futures steady, quiet light trading.
New York in December Arabica coffee futures fell 1.80 cents KCZ0, closing at 1.8325 U.S. dollars per pound, after earlier hitting its highest level since September 1997 1.8865 U.S. dollars.
London robusta coffee futures LRCX0 November fell 14 cents, USD 1,777 per tonne.
since June 10 since the start up, 纽约阿拉比卡 coffee futures prices rose nearly 40% cumulative.
Country Hedging analyst with Sterling Smith said: "The market has a bubble, but I think the rally is absolutely not over."
New York in October raw sugar futures rose 0.12 cents SBV0 , closing at 20.07 cents a pound, the highest since March 7th highest finish. London October white sugar contract rose 2.40 U.S. dollars LSUV0, to close at 577.80 U.S. dollars per ton.
New York in December cocoa futures CCZ0 up 7 cents, USD 2,834 per tonne. London December cocoa futures rose LCCZ0 £ 15, received 2,015 pounds a tonne. (END)
