Good morning, you're tuned in to Markets Desk.
In soft commodities, sugar futures took a sharp hit Thursday, with New York world sugar settling down more than three percent as fund managers moved to lock in gains following a two-week rally. When institutional money rotates out in size, it doesn't take much to reverse momentum in thinly traded agricultural contracts.
Staying in commodities, coffee prices extended their slide for a second consecutive session, with arabica falling more than one percent and robusta not far behind. The catalyst here is supply-side pressure out of Brazil, where September trade data confirmed larger-than-expected export volumes, reminding traders that the world's dominant coffee producer can move markets on its own.
On the enterprise technology side, Circle has embedded USDC stablecoin payments directly into SAP Pay through a partnership with payments firm Tereina. Businesses running SAP workflows can now settle in stablecoins, though access requires an institutional Circle Mint account and depends on regional availability. It's a measured but meaningful step toward stablecoin adoption inside mainstream corporate infrastructure, and it signals that treasury departments are beginning to take programmable money seriously at the workflow level.
That's the tape. Markets Desk, signing off the floor.
