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NY sugar and coffee end up, cocoa down; Greek poll looms
June 15 (Reuters) - Raw sugar and arabica coffee futures
ended higher Friday while cocoa settled lower as players tweaked
their positions ahead of vital Greek elections that may spark
financial turmoil if Athens is put on a path to exit the euro.
For financial market impact, please click:
2:10 PM SETTLE NET PCT LOW HIGH CURRENT
CHNG CHNG VOL
Sugar JUL 20.84 0.87 4.4% 19.98 20.87 62,377
Sugar OCT 20.01 0.5 2.6% 19.51 20.07 60,929
Cocoa JUL 2219 -6 -0.3% 2,203 2,250 2,237
Cocoa SEP 2247 -16 -0.7% 2,240 2,271 9,916
Coffee JUL 150.05 0.85 0.6% 149.25 151.20 7,160
Coffee SEP 152 0.95 0.6% 151.00 153.15 10,407
TOTAL MARKET VOLUME
CURRENT 30D AVG 250D AVG
ICE SUGAR 166,278 113,650 88,516
ICE COCOA 16,642 23,774 19,013
ICE COFFEE 21,367 24,502 19,769
RAW SUGAR
* Spot July raw sugar futures gained 0.87 cent, or
4.36 percent, to settle at 20.84 cents a lb.
* The now-benchmark October raw sugar contract added
0.50 or by 2.56 percent to finish at 20.01 cents per lb.
* For the week, the spot contract was up 4.3 percent.
* The active second position October contract inched up 0.35
percent.
* "We're on Greek watch," Sterling Smith, vice-president for
commodity research at Citibank's Institutional Client Group,
said of the mood amongst soft market participants.
* Market focus turning to expiration of the July contract,
which goes off the board on June 29.
* Open interest in July stood at 182,628 lots as of June 14
- ICE Futures U.S. data.
ARABICA COFFEE
* September arabica futures added 0.95 cent to end at
$1.52 per lb.
* On Thursday, the contract settled at $1.5105, the lowest
settlement for the second position since mid-June 2010.
* On the week, the market is down 3.43 percent.
* September holds above Thursday's session low at $1.5075
per lb.
* Modest short-covering lifts market - brokers.
* Most players looking to impact of Greek election on
Sunday, given macro factors have dominated trading in many
financial markets.
COCOA
* September cocoa futures fell $16 to end at $2,247
per tonne.
* For the week, the market was up 2.8 percent.
* Market retreats after posting modest gains for most of the
week on speculative short-covering - traders.
* Analysts also waiting for results of Greek elections as
macro factors dominate dealings.
* Price differentials for Ghanian cocoa beans rose in
Europe's cash cocoa market this week.
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 Rene Pastor; Editing by John Picinich)
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