May 30, 2012 / 6:18 PM / 5 years ago

NY coffee and cocoa end at multi-month troughs

May 30 (Reuters) - Arabica coffee futures closed at a
21-month low on Wednesday, and U.S. cocoa ended at a 4-1/2-month
trough as investors sold their riskier assets and fled to safety
in treasuries on concern about Spain's economy.	
    Raw sugar finished down a shade after a choppy session.	
    	
 2:06 PM      SETTLE    NET      PCT      LOW    HIGH   CURRENT
                        CHNG    CHNG                       VOL
 Sugar JUL     19.48   -0.05   -0.3%     19.45   19.77   41,427
 Sugar OCT     19.83   -0.09   -0.5%     19.81   20.11   26,967
 Cocoa JUL      2070     -40   -1.9%     2,047   2,105   13,468
 Cocoa SEP      2081     -41   -1.9%     2,059   2,109    9,506
 Coffee JUL    164.4     -1   -0.6%     162.30  166.40   18,367
 Coffee SEP    166.8   -1.1   -0.7%     164.75  168.70   12,238
 
 TOTAL MARKET              VOLUME
                 CURRENT   30D AVG   250D AVG
 ICE SUGAR       89,503   102,796    92,753
 ICE COCOA       27,975    19,079    20,392
 ICE COFFEE      38,067    21,232    21,005
 
    RAW SUGAR
    * Most-active July  inched down 0.05 cent to
settle at 19.48 cents per lb.	
    * Market drifted in quiet business - brokers.	
    * The key July raw sugar contract moved between 19.45 and
19.77 cents, an inside day because it is within Tuesday's 19.40
and 19.82 cents band.	
    * Alex Oliveira, senior sugar analyst at brokerage Newedge
USA, said market fundamentals still bearish.	
    * He estimated the surplus for the upcoming 2012/13 season
around 3-5 million tonnes.	
    * Open interest in the raw sugar market stood at 753,540
lots as of May 29, the highest since mid-March 2010, ICE Futures
U.S. exchange data showed.	
 	
    ARABICA COFFEE
    * July arabicas futures finished down 1 cent at
$1.6440 per lb, its lowest settlement since August 2010 for the
spot position.	
    * Market fell 1.9 percent to the session low at $1.6230, the
lowest level for the spot contract since July 2010.	
    * Arabica futures fell along with the commodity complex as
the dollar climbed and investors sold their riskier assets -
traders.	
    * The premium of arabica over Liffe robusta futures fell to
roughly 63.3 cents per lb, its lowest level since July 2009. 	
    * ICE certified arabica stocks fell by a slight 255 bags to
1,540,461 bags by May 29, with a heavy 40,790 bags pending
grading - ICE data.	
    * Vietnam could export 1.29 million tonnes, or 21.5 million
bags, of coffee this year, its Agriculture Ministry said,
slightly higher than its forecast of 1.25 million tonnes made
earlier this month. 	
                	
    COCOA
    * July cocoa contract fell $40, or 1.9 percent, to
finish at $2,070 a tonne, the lowest settlement for the spot
contract since Jan. 6. 	
    * Cocoa futures dropped on heavy pressure from the weak
sterling - traders.	
    * Improved weather in key growing region West Africa also
added some market pressure - traders.	
    * Market fell on broad-based selling - traders.	
    * The International Cocoa Organization trimmed its forecast
for the size of an anticipated global cocoa deficit in 2011/12
to 43,000 tonnes from a previous projection of 71,000 tonnes. 
 	
     	
        	
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;
Editing by David Gregorio)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below