Futures fell as much as 6.8 percent in New York, the biggest intraday drop since Feb. 1. The summit in the Qatari capital, which dragged on for more than ten hours beyond its initially scheduled conclusion, finished with no final accord. There were significant hurdles to any deal after Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman said the kingdom wouldn’t restrain its production without commitments from other major producers including Iran, which has ruled out freezing for now. Bloomberg.
Managed money open interest -46K contracts, down -10K in a week.
Brazilian coffee farmers see current prices as insufficient to cover costs and have no intention of selling at the moment, despite a looming...
Raw sugar rebounds sharply from 8-month low as March expires