NY coffee ends up 4.4 pct, sugar and cocoa rise
June 26 (Reuters) - Arabica coffee futures soared 4.4 percent to settle at a four-week peak Tuesday after short-covering was triggered when prices hit last week's high. Raw sugar settled firmer following July/October spreading and U.S. cocoa futures ended higher. 2:06 PM SETTLE NET PCT LOW HIGH CURRENT CHNG CHNG VOL Sugar JUL 20.53 0.23 1.1% 20.25 20.67 22,355 Sugar OCT 20.23 0.3 1.5% 19.90 20.36 52,993 Cocoa JUL 2149 62 3.0% 2,102 2,149 51 Cocoa SEP 2149 47 2.2% 2,118 2,165 8,142 Coffee JUL 165.4 6.7 4.2% 157.35 165.30 185 Coffee SEP 165.75 7 4.4% 157.00 166.35 17,060 TOTAL MARKET VOLUME CURRENT 30D AVG 250D AVG ICE SUGAR 104,125 129,549 94,280 ICE COCOA 15,108 26,656 21,212 ICE COFFEE 22,791 29,213 21,647 RAW SUGAR * Spot July raw sugar futures climbed 0.23 cent, or 1.1 percent, to end at 20.53 cents a lb. * October rose 0.30 cent, or 1.5 percent, to settle at 20.23 cents per lb. * Market moved up on talk of delays in the center-south harvest in top producer/exporter Brazil. * Plentiful rains hindered the cane harvest of the center-south region, the world's premier sugar growing area. The wet weather has also hampered loading of ships in the two main ports of Santos and Paranagua. * Players braced for spot July going off the board at the end of the week. * "We are trying to roll out everything," said The Price Group analyst Jack Scoville. * Spreads also dominated business. * The spot month-second position spread stood at a recent high of 0.87 cent on June 18. It has since dropped by almost 60 percent to 0.37 cent on June 25. On Tuesday, the spread was at 0.33 cent. ARABICA COFFEE * September arabica futures closed up 7 cents, or 4.4 percent, at $1.6575 per lb, the highest settlement since May 30. * The market rallied, extending its 2 percent gains from Monday, after hitting last week's high at $1.6150 per lb, basis September - traders. * The technical level triggered a wave of short-covering, which was then followed by fresh buying - traders. * Volume was below average, allowing the market to climb easily. * More than 100 people were missing and about 30 confirmed killed in eastern Uganda's coffee growing region, after a landslide on Monday buried villages on the slopes of Mount Elgon. COCOA * September cocoa futures settled up $47, or 2.2 percent, at $2,149 a tonne. * Firm sterling against the U.S. dollar helped to lift the market - traders. * Gains were capped by the expectation that No. 2 grower Ghana still needs to sell - traders. * The slow start to Ivory Coast's midcrop due to dry weather, helped support the market - traders. * Cocoa farmgate prices in Ivory Coast's cocoa-growing regions fell last week after humid conditions following heavy rains affected the quality of beans, prompting buyers to stay away - farmers, buyers. 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)
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