March 14, 2012 / 6:23 PM / 6 years ago

NY coffee and cocoa settle weaker, sugar moves up

March 14 (Reuters) - Arabica coffee and U.S. cocoa
futures closed lower Wednesday, pressured by a firmer dollar,
while raw sugar went against the weak trend in the commodity
complex and inched up.	
    The opening times for ICE coffee and cocoa futures, and the
settlement window for cocoa, were delayed through March 23 due
to the start of Daylight Savings Time in the United States. For
detailed information: r.reuters.com/wus96s.	
    	
 2:00 PM      SETTLE    NET     PCT      LOW    HIGH  CURRENT
                       CHNG    CHNG                       VOL
 Sugar MAY     24.44   0.31    1.3%    23.85   24.48   40,991
 Sugar JUL     23.48   0.27    1.2%    22.95   23.52   22,601
 Cocoa MAR      2340    -52   -2.2%      000     000         
 Cocoa MAY      2314    -58   -2.5%    2,280   2,379   13,280
 Coffee MAR   182.75   -2.6   -1.4%     0.00    0.00        1
 Coffee MAY    183.6  -2.55   -1.4%   182.65  186.30    9,707
 
 TOTAL MARKET              VOLUME          
                CURRENT   30D AVG  250D AVG
 ICE SUGAR       82,212   114,056    88,519
 ICE COCOA       24,660    23,579    19,053
 ICE COFFEE      17,102    24,855    19,794
                                                             
    	
    RAW SUGAR
    * May raw sugar futures rose 0.31 cent, or 1.3
percent, to settle at 24.44 cents a lb after dipping earlier.	
    * Market retreated in face of firmer ollar - brokers.	
    * At session lows, key May sugar contract ran into consumer
buying to trim losses, the brokers added.	
    * The Price Group analyst Jack Scoville said cash demand
seem to perk up as market plumbs lower levels. 	
    * Sugar traded in a running band from 23.50 to 26.50 cents,
basis spot month, traders said. 	
    * Market digested the possibility of additional sugar
exports by No. 2 producer India.	
    * The trade is looking toward start of the harvest in the
premier center-south region of leading producer/exporter Brazil.	
    
    ARABICA COFFEE
    * May arabicas fell 2.55 cents, or 1.4 percent, to
settle at $1.8360 per lb.	
    * Arabica futures fell along with many commodities,
pressured by the strong U.S. dollar - traders.	
    * May contract remained above Monday's 17-month low at
$1.8105 per lb but was still sharply oversold on a technical
basis - traders.	
    * Arabica coffee futures trading on ICE are set for a
short-term bounce, analysts said, after the market dropped
roughly 12 percent within two weeks, reaching the deepest
oversold territory since 2000. 	
    * ICE certified arabica stocks fell by 2,765 bags to
1,557,334 bags by March 13, with a light 11,814 bags pending
grading - ICE data.	
    	
    COCOA
    * May cocoa contract fell $58, or 2.5 percent, to
settle at $2,314 a tonne.	
    * Market tumbled but remained range bound.	
    * Strong U.S. dollar against a basket of major
currencies, weighed on the market - traders.	
    * "We're getting into that slow period. We could probably
just be stuck in this range for the time being." - Boyd Cruel,
softs analyst for Vision Financial Markets in Chicago.	
    * Heavy rains in the first quarter will lead to a 60 percent
slump in Indonesia's cocoa bean output compared to a year ago,
an industry group said, although the full-year figure is likely
to show a near 10 percent increase. 	
	
 (Reporting by Marcy Nicholson and Rene Pastor)

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