Coffee and Sugar sprinted to the top of the Bloomberg Commodity Index today as KC gained 2.3% to settle plus 230 points at 90.85 and Sugar landing at number 2 in the pack with a gain of 1.12% in value. Both markets ran counter to the currency correlative trade as the BRL and emerging market currencies in general weakened to a 4 month low, as demand for riskier assets dampened amidst on again, off again trade tensions with China. Robusta staged an impressive reversal, opening unchanged at 9 year lows, before rallying $63 to a high of 1351 and filling the Tuesday-Wednesday 1340-41 gap in the process, ultimately settling plus 55 at 1345 MT. While Arabica saw its best performance in 3 weeks, Robusta stole the show, with its strongest one day gain since the $59 rally of May 1, 2018.
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