MF Global Holdings Ltd.’s bankruptcy is sending some of the firm’s customers rushing for new clearing brokers after CME Group Inc. and Intercontinental Exchange Inc. blocked them from new business on their futures markets.
Orange-juice futures fell, capping the biggest weekly drop since September, as tests by the U.S. Food and Drug Administration for a banned fungicide in some domestic supplies indicated no health risk. Cotton climbed.
Sugar fell the most since September as weather conditions improved for Brazil’s cane crop, the world’s largest, and a stronger dollar curbed the appeal of commodities as investments. Coffee and cocoa dropped.
Arabica coffee rose, capping the first weekly gain in three, after an industry group cut its estimate for global production because adverse weather hurt crops and delayed harvests. Cocoa was steady, while cotton fell.
Cocoa rose to a 32-year high in New York on concern that supplies from Ivory Coast, the world’s biggest producer, will continue to be disrupted as an export ban of the chocolate ingredient is extended.
Coffee futures rose to a 25-month high as concerns mounted that the global market will swing to a deficit after a drought in the first quarter ravaged crops in Brazil, the world’s biggest producer and exporter.