date:Aug 05, 2014
Raw sugar futures steadied on Monday after surging 5.6 percent in the first three minutes of trade in a knee-jerk reaction to a sugar warehouse fire at top grower Brazil's Santos port. Cocoa turned lower after rising to three-year highs. Arabica coffee on ICE Futures US and robusta coffee on Liffe sank more than 3 percent on a wave of chart-based selling.
Sugar prices skyrocketed after news that a fire at a warehouse operated by producer Cosan SA destroyed 15,000 tonnes of the sweetener. It wa