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NY coffee consolidates higher, sugar and cocoa also end up
July 25, 2012 / 6:37 PM / 5 years ago

NY coffee consolidates higher, sugar and cocoa also end up

 July 25 (Reuters) - Arabica coffee futures ended up a shade
on Wednesday, consolidating after Tuesday's volatile slump,
while raw sugar and U.S. cocoa changed direction and also
finished firm.
 
 2:00 PM      SETTLE    NET     PCT      LOW    HIGH  CURRENT
                    CHNG    CHNG                       VOL
 Sugar OCT     23.57   0.08    0.3%    23.19   23.63   47,203
 Sugar MAR     23.84   0.11    0.5%    23.51   23.88   23,975
 Cocoa SEP      2230     21    1.0%    2,195   2,255    8,493
 Cocoa DEC      2246     17    0.8%    2,214   2,273    2,790
 Coffee SEP    176.3   0.85    0.5%   174.00  178.45   10,766
 Coffee DEC   179.15   0.85    0.5%   177.00  181.15    3,418
 
 TOTAL MARKET              VOLUME          
             CURRENT   30D AVG  250D AVG
 ICE SUGAR       89,826   128,940    96,202
 ICE COCOA       13,408    22,185    21,648
 ICE COFFEE      15,114    25,766    22,048
                                                          
 RAW SUGAR
 * Benchmark October raw sugar futures crept up 0.08
cent, or 0.3 percent, to finish at 23.57 cents a lb.
 * Market sags on speculative sales but turned higher on
late-day speculative buying - brokers.
 * Trade frets over poor macro environment.
 * Jack Scoville, analyst for brokers The Price Group, said
improved weather would lead to higher sugar flows, pressuring
futures.
 * Traders waiting for more news out of India, where poor
monsoon may hit output in world's No. 2 sugar producer.
                 
 ARABICA COFFEE
 * September arabica futures inched up 0.85 cents, or
0.5 percent, to finish at $1.7630 per lb.
 * The September contract closed below the 100-day moving
average at $1.7766 for the second straight day, though it moved
above the level briefly during intraday dealings.
 * Market consolidated after tumbling more than 5 percent on
Tuesday, in a late-day selling spree that sent prices falling in
their biggest percentage drop in nine months - traders.
 * Coffee prices will hold their current trading range
through 2013 even as record harvests in Brazil and Vietnam, the
world's two biggest growers, push the market into a surplus of
an estimated 4.5 million bags - Reuters poll. 
 * Certified arabica stocks were lifted by 6,109 bags to
1,755,638 bags by July 24, the highest since October 2010. There
were a 49,588 bags pending grading - ICE data.
 * ICE certified arabica stocks have climbed every day so far
this month - exchange data.
         
 COCOA
 * Benchmark September cocoa futures rose $21, or 1
percent, to close at $2,230 a tonne.
 * Market turned higher midsession as it took its cues from
the bigger Liffe cocoa futures market - traders.
 * Cocoa futures turned up as the selling by Ghana on the
London market, earlier in the session, eased up - traders.
 * Unusually dry weather in Ivory Coast and the expectation
for the El Nino weather phenomenon to potentially have a
negative impact on cocoa crops in the main producing region of
West Africa, underpinned prices - traders.
 * Total open interest climbed by 2,776 lots to 188,499 lots
on July 24, the highest since May 31 - ICE data.
     
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       
Weather news             Foreign exchange rates    
SPEED GUIDES  

 (Reporting by Marcy Nicholson and Rene Pastor in New York)
 
 

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