June 26 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
* 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
* 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
* 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
* 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
(Reporting by Marcy Nicholson and Rene Pastor)