Arabica coffee futures dropped Tuesday
YORK August 25 morning news, Arabica coffee futures fell Tuesday, two and a half recorded its biggest one-day percentage decline since. The weak global economy worries that commodities markets and the stock market wavering, triggering a lot of selling.
cocoa futures fell, the U.S. coffee futures closed at five-month low, but raw sugar futures closed at five-month high, traders and investors benefit from buying, and investment funds back margin call position.
Newedge USA analyst Alex Oliveira said: "This is the result of macroeconomic problems, and nothing to do with market fundamentals."
Diapason Commodities Management fund manager Romain Lathiere said: "All assets are dropped, not only soft goods. all risky assets in the withdrawal. "
New York in December Arabica coffee contract fell 14.80 cents KCZ0 stiffness, or 8.1 percent, to close 1.6845 U.S. dollars per pound recorded in March 2008 the largest single-day percentage decline since. Monday, the contract hit an intraday high of 1.8865 U.S. dollars, since the September 1997 peak.
London in November robusta coffee contract LRCX0 fell 137 U.S. dollars, or 7.7%, to close at 1,640 dollars per tonne.
raw sugar futures in New York in October SBV0 up 0.09 cents to 20.16 cents a pound, hitting its highest close since early March. Surge in early selling, the market drop as low as 19.09 cents, for the past week intraday low.
LSUV0 London October white sugar contract fell 7.90 U.S. dollars to close at 569.90 U.S. dollars per ton.
CCZ0 New York in December cocoa contract fell 22 cents, USD 2,812 per tonne for the March 9 the lowest settlement price since. London December cocoa contract LCCZ0 down 10 pounds to 2,005 pounds per tonne. (END)
