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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Sugar soars, cocoa falls

Jun 02, 2011 12:56 PM

Heavy output of sugar to be shipped from Brazil pushed up the soft commodity's futures on Thursday morning, Bloomberg reports.

Losses from Wednesday were overcome by the logjam exported from the globe's top producer of sugar. A strengthening demand for the sweetener is rising from Islamic nations as the Muslim fasting period of Ramadan approaches in August.

"The lagging crush remains likely a major supporting aspect for international prices," according to a Wednesday report by analyst Keith Flury of Rabobank International in London. "Lower cane quality due to weather conditions and a delayed start this season means production will have to ramp up quickly to achieve output estimates."

But cocoa futures slipped in value, Reuters reports, attributing the drop in price to strengthening shipments of the soft commodity by the Ivory Coast, which is the globe's top supplier of cocoa. The West African nation lifted a ban on exporting cocoa, prompting a surplus.

At 1:29 p.m. on Thursday, sugar futures climbed 4.81 percent, a 0.0108 cent rise to 0.2354 per pound. Cocoa futures were down 1.96 percent, a $58 drop to $28.95 per metric ton.

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