Soft commodities dropped Monday as global financial markets plunged amid intensified fears over a significant slowdown in China. Prices for Arabica coffee for December delivery recently were down 2.1% at $1.2360 per pound on the ICE Futures U.S. Exchange. Frozen concentrated orange juice for November fell 3.2% to $1.240 a pound, and December cotton dropped 3.7% to end at 64.52 cents a pound. Raw sugar for October delivery declined 1.4% to 10.29 cents a pound.
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Did you know?
Coffee trees are evergreen and grow to heights above 15 feet but are normally pruned to around 8 feet in order to facilitate harvesting.