Cocoa Gains to Two-Week High in London; Sugar, Coffee Also Climb

June 6th, 2013

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Category: Cocoa, Sugar

(Bloomberg) – Cocoa advanced for a third consecutive day in London, climbing to the highest price in almost two weeks and leading gains among the soft commodities.

Cocoa futures for July delivery added 0.9 percent to 1,541 pounds ($2,367) a metric ton on NYSE Liffe by 10:41 a.m. in London, and earlier reached 1,543 pounds, the highest price for a most-active contract since May 23.

Cocoa futures for the same month gained 0.7 percent to $2,298 a ton on ICE Futures in New York. Futures trading volume was 63 percent higher than the average in the past 100 days for this time of day, according to data compiled by Bloomberg.

Robusta coffee for delivery in July was 0.4 percent higher at $1,883 a ton in London, gaining for the first time in three days. Arabica coffee for the same month rose 0.7 percent to $1.285 a pound on ICE.

White, or refined, sugar for August delivery added 0.3 percent to $478.20 a ton on NYSE Liffe, gaining for a second day. Raw sugar for July delivery added 0.4 percent to 16.45 cents a pound on ICE.

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