NY cocoa up from 3-month low; coffee, sugar gain

Wed Apr 11, 2012 8:51am EDT

April 11 (Reuters) - (Reuters is considering ending its
daily metals/softs pre-opening report on Monday April 16 and is
soliciting feedback from subscribers. Please send comments and
feedback about the move to Josephine Mason at
josephine.mason@thomsonreuters.com)	
	
U.S. cocoa futures recovered after tapping a three-month low on
Wednesday. Arabica coffee gained ground while raw sugar traded
little changed.	
    For news on other financial markets, please click on:   	
      ] 7:46 AM  	
	
 8:47 AM        LAST    NET     PCT      LOW    HIGH  CURRENT
               TRADE   CHNG    CHNG                       VOL
 Sugar MAY     23.89   0.02    0.1%    23.81   24.03    9,377
 Sugar JUL     23.16      0    0.0%    23.10   23.27   10,563
 Cocoa MAY     2,070      6    0.3%    2,052   2,089    3,944
 Cocoa JUL     2,075      5    0.2%    2,056   2,093    4,787
 Coffee MAY   180.15      2    1.1%   177.90  180.75    5,000
 Coffee JUL   182.35    1.9    1.1%   180.15  182.95    4,256
                                                              
 TOTAL MARKET              VOLUME          
                CURRENT   30D AVG  250D AVG
 ICE SUGAR       25,988   108,091    90,255
 ICE COCOA       10,161    23,879    19,512
 ICE COFFEE      10,808    24,675    20,293
                                                              
 * Raw sugar futures for May        rose 0.02 cent to 23.89
 cents a lb in volume of 9,377 lots, trading in a range of
 23.81 to 24.03. July        was unchanged at 23.16 cents a
 lb.
 * Cocoa futures for May        rose $6 to $2,070 a tonne in
 volume of 3,944 lots, trading in a range of $2,052 to $2,089.
 July        rose $5 to $2,075 a tonne.
 * Arabica coffee futures for May        rose 2.00 cents to
 $1.8015 a lb in volume of 5,000 lots, trading in a range of
 $1.7790 to $1.8075. July        rose 1.90 cents to $1.8235 a
 lb.
 	
    MARKET NEWS	
    * Thomson Reuters analyst Wang Tao's outlook for New York
soft commodities: raw sugar expected to fall to 23.32
cents, arabica coffee to target $1.75/lb and cocoa 
target of $2,003/tonne is resumed. 	
    * For more details in the daily softs market report, please
click on: 	
        	
    FUNDAMENTALS   	
    * Marex Spectron said on Wednesday it had appointed Ana
Puchi-Donnelly as head of the sugar market making desk in London
as part of the firm's strategy to strengthen its agricultural
product offering. 	
    * Cocoa farmgate prices in Ivory Coast's main growing
regions were stable to slightly higher last week as local buyers
began to build stock ahead of the mid-crop but balked at paying
more for poor quality beans - farmers, buyers.  	
    * Cocoa traders saw no immediate price reaction to an
earthquake off Indonesia, the world's third biggest producer. 
 	
    	
    ECONOMY	
    * U.S. import-export prices for March. 8:30 a.m. EDT (1230
GMT) 	
                 	
    MARKETS 	
    * Stocks staged a modest recovery but investors were wary
that the euro zone's debt problems were getting worse and that
global growth was flagging. 	
    * Crude oil dropped to its lowest in almost two months on a
rise in U.S. inventories and worries over demand. 	
    * Gold fought to hold steady as the euro zone debt crisis
threatened to undermine the euro and offset any safe-haven
demand. 	
    	
	
 (Reporting by Marcy Nicholson)
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