June 5, 2012 / 6:12 PM / 5 years ago

NY cocoa ends at 2-week high, sugar up, coffee down

 June 5 (Reuters) - Cocoa futures finished Tuesday at a
2-week high on fund buying while raw sugar firmed and arabica
coffee dropped against the backdrop of a holiday in England. A
weaker global economy haunted financial markets.	
	
 2:00 PM      SETTLE    NET     PCT      LOW    HIGH  CURRENT
                    CHNG    CHNG                       VOL
 Sugar JUL     19.06   0.16    0.9%    18.90   19.19   53,889
 Sugar OCT     19.37   0.08    0.4%    19.29   19.54   44,863
 Cocoa JUL      2163     69    3.3%    2,073   2,169   16,492
 Cocoa SEP      2166     68    3.2%    2,077   2,170   14,558
 Coffee JUL    156.2  -2.25   -1.4%   155.90  159.35   11,446
 Coffee SEP   158.45  -2.35   -1.5%   158.10  161.50    7,872
 
 TOTAL MARKET              VOLUME          
             CURRENT   30D AVG  250D AVG
 ICE SUGAR      131,499   113,650    88,516
 ICE COCOA       35,777    23,774    19,013
 ICE COFFEE      23,512    24,502    19,769
                                                          
 	
 	
 RAW SUGAR
 * July sugar  gained 0.16 cent to finish at
19.06 cents per lb. 	
 * On Monday, the contract ended at 18.90 cents, the spot
contract's lowest settlement since August 2010.	
 * "Sugar's finding a little bit of support at these low
levels," said Sterling Smith, vice-president of commodity
research at Citibank's Institutional Client Group in Chicago. 	
 * Buying by Muslim countries ahead of holy fasting month of
Ramadan next month was supportive for sweetener.	
 * The market was running into pressure from harvest in
Brazil and prospect of steady sugar exports from India.	
 * Players closely watching progress of annual monsoon in
India, the world's No. 2 producer of sugar. 	
 	
 ARABICA COFFEE
 * July arabica futures dropped 2.25 cents, or 1.4
percent, to end at $1.562 per lb.	
 * Market consolidated above Monday's session low of  $1.5465
which marked the cheapest price since mid-2010 - exchange data.	
 * Euro zone debt crisis kept arabicas on defensive.	
 * Open interest as of June 4 stood at 158,830 lots, the
highest since April 9, ICE exchange data showed.	
 	
 COCOA
 * July cocoa rose $69 or 3.3 percent to finish at
$2,163 per tonne.	
 * It was highest spot settlement since May 22 - Thomson
Reuters data.	
 * Market driven higher by investor buying - brokers.
 * Talk of canker in Nigeria, No. 4 producer of beans, seen
partly boosting market.	
 * "This could affect their production...tighten supplies a
little bit," said Smith. 	
  	
     	
For related news and prices, click on the codes in brackets:  	
Sugar futures/spreads   Sugar cash prices  	
Coffee futures/spreads  Coffee cash prices 	
Cocoa futures/spreads   Cocoa cash prices    	
    	
RELATED NEWS AND OTHER TOPICS   	
All sugar news            All coffee news         	
All cocoa news            All softs news           	
All commodities news        Softs diary       	
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SPEED GUIDES  	
	
 (Reporting by Rene Pastor; Editing by)	
 	
 

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