Business | Markets
Soft commodities futures gain as economy revives
Soft commodity futures sped higher on Friday lifted by a US jobs report
- Reuters
- Published: 00:00 February 5, 2012
New York/London: Soft commodity futures sped higher on Friday lifted by a US jobs report that signalled a recovering economy that consequently may increase demand for sugar, coffee and cocoa.
"It gave the idea that things are getting better and pushed demand," said Jack Scoville, analyst at The Price Group.
March raw sugar futures on ICE rose 0.46 cent, or almost 2 per cent, to close at 23.94 cents per pound. London's March white sugar futures gained $5.30 to end at $635.10 per tonne.
March robusta coffee on Liffe rose $37 or nearly 2 per cent to close at $1,837 a tonne. ICE March arabicas put on 0.35 cent to end at $2.1595 a pound.
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