Investing.com - U.S. soft futures were mixed during U.S. morning trade on Tuesday, with sugar prices holding near the lowest level since August 2010 as investors were hesitant to enter the market amid bearish chart signals. On the ICE Futures U.S. Exchange, sugar futures for May delivery traded at USD0.1770 a pound, up 0.25% on the day. The May contract held in a tight trading range between USD0.1761 a pound, the daily low and a session high of USD0.1773 a pound. The May contract fell to USD0.1756 a pound on March 28, the lowest level since August 2010. Sugar prices have been under heavy selling pressure in recent months, as sentiment on the sweetener was dampened amid the view that global supplies are more than ample to meet world demand. Meanwhile, Arabica coffee for May delivery traded at USD1.3735 a pound, down 0.15% on the day. The May contract was stuck between USD1.3707 a pound, the daily low and a session high of USD1.3800 a pound. The May contract fell to a 34-month low of USD1.3207 a pound on March 20. Coffee prices have been on a downward trend in recent weeks as speculators pushed prices lower amid worries over sufficient global supplies. Elsewhere, cotton futures for May delivery traded at USD0.8801 a pound, up 0.7% on the day. The May contract rose by as much as 0.9% earlier to hit a session high of USD0.8813 a pound. The fiber continued to draw support from last week’s U.S. Department of Agriculture supply report, which showed that U.S. farmers will plant about 10.026 million acres of cotton for next year's crop, the smallest acreage in four years.

Source