April 20, 2012 / 6:16 PM / 5 years ago

NY sugar ends at 11-mth low, coffee and cocoa climb

April 20 (Reuters) - Raw sugar futures trading on ICE closed
at an 11-month low on long liquidation, the weakest performer on
the Thomson Reuters-Jefferies CRB index on Friday.	
    Arabica coffee futures finished firm, but remained near this
week's 18-month low, while U.S. cocoa also moved upward. 	
 2:00 PM      SETTLE    NET     PCT      LOW    HIGH  CURRENT
                       CHNG    CHNG                       VOL
 Sugar MAY     21.93  -0.12   -0.5%    21.83   22.34   17,786
 Sugar JUL     21.55  -0.22   -1.0%    21.42   21.94   57,281
 Cocoa MAY      2299     41    1.8%    2,250   2,315       35
 Cocoa JUL      2269     35    1.6%    2,200   2,279    9,188
 Coffee MAY    177.7   4.05    2.3%   173.55  178.40      350
 Coffee JUL   178.95    3.3    1.9%   175.40  179.65   10,531
 TOTAL MARKET              VOLUME          
                CURRENT   30D AVG  250D AVG
 ICE SUGAR      119,156   120,385    91,624
 ICE COCOA       16,484    28,083    19,995
 ICE COFFEE      17,621    30,431    20,640
     RAW SUGAR  
    * May raw sugar futures on ICE eased 0.12 cent to
close at 21.93 cents per lb.	
    * The most active July contract fell 0.22 cent or 1
percent to close at 21.55 cents a lb, the weakest settlement for
the second position since May 2011.	
    * July closed the week down 5.4 percent, the second
position's biggest weekly tumble in six weeks.   	
    * The May/July spread once again widened, closing at 0.38
cent, versus 0.28 cent per lb on Thursday.	
    * Market fell on long liquidation and abundant nearby
supplies - traders.	
    * Consultancy Kingsman SA trimmed its forecast for 2012/13
cane output in centre-south Brazil to 510 million tonnes, from a
previous forecast of 520 million tonnes estimated in January.  
    * July arabicas rose 3.30 cents, or 1.9 percent, to
finish at $1.7895 per lb.	
    * July closed the week down 0.7 percent.	
    * Market extended its gains above Tuesday's 18-month low of
    * Arabica coffee futures felt spillover support from the
firm commodity complex and was buoyed by the weak U.S. dollar
 - traders.	
    * It is first notice day for the May contract.	
    * May/July spread closed at 1.25 cents from 2 cents on
    * Open interest dropped by 1,368 lots to 142,626 lots on
Thursday, the lowest since March 9 - ICE data.	
    * July cocoa finished up $35, or 1.6 percent, at
$2,269 per tonne.	
    * On the week, July settled up 3.1 percent.	
    * Market saw initial weakness on pressure from the lower
North American cocoa grind data released post-market on
Thursday, but quickly rebounded and turned higher - traders.	
    * The strong pound against the U.S. dollar also
helped lift the market - traders.	
    * North American cocoa grindings in the first quarter
dropped 4.04 percent from the upwardly revised year-ago figure,
data from the National Confectioners Association showed on
Thursday, falling into the lower end of estimates.
    * The first-quarter grind data was up from the previously
reported year-ago figure, causing some dealers to view the data
with a less bearish perspective than it originally appeared -
    * "The main crop flow is almost over," said one veteran
cocoa dealer in New York, adding that the lack of origin selling
allowed the market to climb.	
    * The market continued to face resistance at the 100-day
moving average at $2,282 per tonne, basis July - traders.	
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    	
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; Editing by Marguerita Choy)

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