Commodities

Raw sugar, cocoa rally as oil soars after Saudi attacks

Reuters London | Updated on September 16, 2019 Published on September 16, 2019

File photo   -  Bloomberg

Raw sugar futures on ICE rallied on Monday, hitting their highest in a week and a half as funds covered their record net short positions and oil prices soared after a major attack on Saudi Arabian oil facilities. Cocoa prices hit 1-1/2 month highs.

October raw sugar was up 0.22 cents, at 11.11 cents per lb by 1050 GMT, having earlier hit a 1-1/2 week high of 11.19.

October white sugar was up $5.80,at $326.41 per tonne.

December New York cocoa was up $10, at $2,347 a tonne, having hit $2,350, its highest level in a month and a half.

December London cocoa rose £16 pounds, to £1,806 pounds a tonne, having hit a 1-1/2 month high of 1,814 pounds.

December arabica rose 0.6 cents, to $1.0335 per lb.

Published on September 16, 2019
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