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NY coffee consolidates higher, sugar and cocoa also end up
July 25 (Reuters) - Arabica coffee futures ended up a shade
on Wednesday, consolidating after Tuesday's volatile slump,
while raw sugar and U.S. cocoa changed direction and also
finished firm.
2:00 PM SETTLE NET PCT LOW HIGH CURRENT
CHNG CHNG VOL
Sugar OCT 23.57 0.08 0.3% 23.19 23.63 47,203
Sugar MAR 23.84 0.11 0.5% 23.51 23.88 23,975
Cocoa SEP 2230 21 1.0% 2,195 2,255 8,493
Cocoa DEC 2246 17 0.8% 2,214 2,273 2,790
Coffee SEP 176.3 0.85 0.5% 174.00 178.45 10,766
Coffee DEC 179.15 0.85 0.5% 177.00 181.15 3,418
TOTAL MARKET VOLUME
CURRENT 30D AVG 250D AVG
ICE SUGAR 89,826 128,940 96,202
ICE COCOA 13,408 22,185 21,648
ICE COFFEE 15,114 25,766 22,048
RAW SUGAR
* Benchmark October raw sugar futures crept up 0.08
cent, or 0.3 percent, to finish at 23.57 cents a lb.
* Market sags on speculative sales but turned higher on
late-day speculative buying - brokers.
* Trade frets over poor macro environment.
* Jack Scoville, analyst for brokers The Price Group, said
improved weather would lead to higher sugar flows, pressuring
futures.
* Traders waiting for more news out of India, where poor
monsoon may hit output in world's No. 2 sugar producer.
ARABICA COFFEE
* September arabica futures inched up 0.85 cents, or
0.5 percent, to finish at $1.7630 per lb.
* The September contract closed below the 100-day moving
average at $1.7766 for the second straight day, though it moved
above the level briefly during intraday dealings.
* Market consolidated after tumbling more than 5 percent on
Tuesday, in a late-day selling spree that sent prices falling in
their biggest percentage drop in nine months - traders.
* Coffee prices will hold their current trading range
through 2013 even as record harvests in Brazil and Vietnam, the
world's two biggest growers, push the market into a surplus of
an estimated 4.5 million bags - Reuters poll.
* Certified arabica stocks were lifted by 6,109 bags to
1,755,638 bags by July 24, the highest since October 2010. There
were a 49,588 bags pending grading - ICE data.
* ICE certified arabica stocks have climbed every day so far
this month - exchange data.
COCOA
* Benchmark September cocoa futures rose $21, or 1
percent, to close at $2,230 a tonne.
* Market turned higher midsession as it took its cues from
the bigger Liffe cocoa futures market - traders.
* Cocoa futures turned up as the selling by Ghana on the
London market, earlier in the session, eased up - traders.
* Unusually dry weather in Ivory Coast and the expectation
for the El Nino weather phenomenon to potentially have a
negative impact on cocoa crops in the main producing region of
West Africa, underpinned prices - traders.
* Total open interest climbed by 2,776 lots to 188,499 lots
on July 24, the highest since May 31 - ICE data.
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)
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