COMMODITIES

Soybean futures surged after a report showed record US processing rates, indicating strong demand for livestock feed. The National Oilseed Processors Association said its members crushed 30.1 million bushels of soybeans in week ending 12 March.

New York COFFEE prices jumped on Friday after Starbucks Corporation, which operates more than 1,000 retail coffee shops in the US, raised the price of its brewed coffee and beans. The move came as US coffee inventories run far below historic levels and Coffee, Sugar & Cocoa Exchange prices hover near two and a half-year highs.

COCOA prices rose to a seven-month high on expectations that the Ivory Coast, the world's biggest grower, will harvest a smaller-than-expected crop this year.

ORANGE JUICE futures sank after the US Department of Agriculture raised its estimate of the record Florida crop, promising ample supplies in the coming year. Copyright: IOS & Bloomberg