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Cocoa futures jumped, capping the biggest two-day gain in almost 11 years, after a nationwide strike spurred concerns that supplies will be disrupted in Nigeria, the world’s fourth- largest producer.
Cocoa for March delivery rose 7.5 percent to close at $2,333 a metric ton at 12:04 p.m. on ICE Futures U.S. in New York. In two days, the price soared 15 percent, the most since Jan. 17, 2001.
Raw-sugar futures for March delivery fell 0.1 percent to 23.32 cents a pound.
March-delivery Arabica-coffee futures rose 1.8 percent to $2.2595 a pound, the biggest gain since Dec. 19.
Cotton futures for March delivery advanced 0.5 percent to 96.96 cents a pound.
Orange-juice futures rose the most in five years as freezing weather damages citrus crops in Florida, and a U.S. government probe of a fungicide used on fruit in Brazil may limit imports.
Orange juice for March delivery jumped the 20-cent exchange limit, or 11 percent, to settle at $2.0775 a pound at 2 p.m. on ICE Futures U.S. in New York, a record for the contract and the highest level for a most-active contract since March 2007.
Cocoa futures jumped, capping the biggest two-day gain in almost 11 years, after a nationwide strike spurred concerns that supplies will be disrupted in Nigeria, the world’s fourth- largest producer.
Cocoa for March delivery rose 7.5 percent to close at $2,333 a metric ton at 12:04 p.m. on ICE Futures U.S. in New York. In two days, the price soared 15 percent, the most since Jan. 17, 2001.
Raw-sugar futures for March delivery fell 0.1 percent to 23.32 cents a pound.
March-delivery Arabica-coffee futures rose 1.8 percent to $2.2595 a pound, the biggest gain since Dec. 19.
Cotton futures for March delivery advanced 0.5 percent to 96.96 cents a pound.
Orange-juice futures rose the most in five years as freezing weather damages citrus crops in Florida, and a U.S. government probe of a fungicide used on fruit in Brazil may limit imports.
Orange juice for March delivery jumped the 20-cent exchange limit, or 11 percent, to settle at $2.0775 a pound at 2 p.m. on ICE Futures U.S. in New York, a record for the contract and the highest level for a most-active contract since March 2007.