Arabica slips off near six-week high as cocoa also falls
According to Reuters, arabica coffee futures on ICE retreated from a recent peak as dealers took profits, while raw sugar and cocoa also lost ground.
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what happened
According to Reuters, arabica futures on ICE fell on Thursday as dealers took profits after the contract touched its highest level since September 9 the day before. The settlement was down 1.2% at $3.1245 per pound. Exports from top grower Brazil are picking up, but independent broker and consultant Michael J Nugent said meaningful inventory rebuilding is probably still several months away.
Raw sugar dropped 1.6% to 20.13 cents per pound, moving away from last week's 19-month peak. It was the fifth straight negative close, as fund positions that are close to a record long were partly unwound. London cocoa settled down 3.9% at 4,296 pounds per ton, while New York cocoa fell 4.5% to $5,582 a ton.
why it matters
Sunday's presidential election in Brazil is the key event for the market, with opposition candidate Flavio Bolsonaro expected to win. A stronger real cuts Brazilian exporters' local-currency returns and discourages them from selling coffee for dollars. Sugar has been supported by high energy prices, which push mills toward ethanol.
market impact
Coffee, sugar and cocoa: profit-taking weighs on futures; BRL/USD sensitive to Brazil's election outcome
tags
instruments
sources
- Arabica coffee slides off near six-week high, cocoa also falls — Reuters, 22 October 2026 at 19:09 UTC
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