April 26 Raw sugar futures tumbled to close at
an 11-month low Thursday, bringing the spread between the spot
and the second month to the lowest level in nearly a year.
Arabica coffee futures closed down a shade after seesaw
dealings as the market consolidated at the lower end of the
previous session's volatile range, while U.S. cocoa rose on
2:00 PM SETTLE NET PCT LOW HIGH CURRENT
CHNG CHNG VOL
Sugar MAY 21.32 -0.72 -3.3% 21.28 22.20 21,182
Sugar JUL 21.25 -0.55 -2.5% 21.21 21.96 76,847
Cocoa MAY 2327 25 1.1% 2,303 2,326 11
Cocoa JUL 2272 21 0.9% 2,242 2,289 7,057
Coffee MAY 174.7 -1.25 -0.7% 174.75 176.35 95
Coffee JUL 175.85 -0.9 -0.5% 175.55 178.25 7,603
TOTAL MARKET VOLUME
CURRENT 30D AVG 250D AVG
ICE SUGAR 140,255 123,002 92,120
ICE COCOA 10,697 28,230 20,159
ICE COFFEE 12,183 29,492 20,744
* May raw sugar futures on ICE sank 0.72 cent, or 3.3
percent, to close at 21.32 cents per lb.
* Most-active July dropped 0.55 cent, or 2.5 percent,
to end at 21.25 cents per lb, the lowest settlement for the
second position since May 23, 2011.
* Market fell to an 11-month low as players move out of spot
contract before Monday expiry - dealers.
* May/July spread closed at 7 points, its most narrow since
May 13, 2011.
* Alex Oliveira, sugar analyst at Newedge USA, said delivery
will be small against May.
* Traders said July may soon test 20 cents.
* July arabicas dipped 0.90 cent to finish at $1.7585
per lb in an inside day.
* Trading was choppy on both sides of unchanged - traders.
* Prices consolidated at the lower end of the wide range
dealt on Wednesday, when the market tumbled.
* Short-covering provided brief moves higher while the
expectation for a large crop in top grower Brazil, where the
harvest has begun, added pressure - traders.
* A sharp, swift drop in coffee prices on Wednesday
triggered IntercontinentalExchange Inc's new circuit
breaker for the first time since the new system was launched
just over two weeks ago to prevent extreme price volatility.
* July cocoa inched up $21, or 0.9 percent, to settle
at $2,272 per tonne, an inside day for the second straight day.
* Cocoa futures inched higher on support from the strong
pound against the U.S. dollar and on short-covering -
* Violence in top grower Ivory Coast did not provide market
support - traders.
* Gunmen killed at least five people in an overnight attack
on a border town in southwestern Ivory Coast, humanitarian and
military officials said on Wednesday.
* Cocoa grindings in Asia rose 5.7 percent to 157,000 tonnes
in the first quarter of 2012, compared with the same period last
year, the Cocoa Association of Asia said on its website.
* ICE Futures U.S. lowered its margin requirements for
cocoa, effective Friday.
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
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(Reporting by Marcy Nicholson and Rene Pastor)