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NY coffee flirts with 16-mth low, sugar off and cocoa up
March 9, 2012 / 7:06 PM / 6 years ago

NY coffee flirts with 16-mth low, sugar off and cocoa up

March 9 (Reuters) - Arabica coffee futures fell on
Friday and approached a 16-month low, while raw sugar slipped
quietly lower and cocoa finished firmer as it recovered from an
early bout of weakness in bean values.    	
   	
 2:00 PM      SETTLE    NET     PCT      LOW    HIGH  CURRENT
                       CHNG    CHNG                       VOL
 Sugar MAY     23.66   -0.3   -1.3%    23.55   24.19   42,637
 Sugar JUL     22.78   -0.2   -0.9%    22.68   23.22   29,967
 Cocoa MAR      2440      1    0.0%    2,422   2,430       10
 Cocoa MAY      2410     15    0.6%    2,361   2,425    9,830
 Coffee MAR    185.6  -3.75   -2.0%   186.00  186.30        8
 Coffee MAY    186.2   -3.2   -1.7%   185.55  189.40    9,113
 
 TOTAL MARKET              VOLUME          
                CURRENT   30D AVG  250D AVG
 ICE SUGAR       95,959   113,650    88,516
 ICE COCOA       16,870    23,774    19,013
 ICE COFFEE      15,138    24,502    19,769
                                                              
     	
    RAW SUGAR
    * Key May raw sugar futures fell 0.30 cent, or 1.25
percent, to end at 23.66 cents a lb.	
    * For the week, sugar is down 5.2 percent.
    * Market drops early in the session to a two-week low of
23.55 cents.  	
    * Trade and consumer buying steadies sugar. 
    * Large Brazilian center-south cane crop keeping market weak
and on defensive.
    ARABICA COFFEE
    * May arabicas dropped 3.20 cents or by 1.7 percent
to close at $1.862 a lb. 	
    * Market was down 7.7 percent for the week.
    * Session low of $1.856 just a hair above the low of $1.851
hit on Thursday, which was lowest for the second-position
contract since mid-October 2010, Thomson Reuters data.	
    * Prospect of a record coffee crop in 2012/13 depressed
market values - brokers.	
    COCOA
    * May cocoa contract added $15 to close at $2,410 per
tonne. 	
    * On the week, cocoa is up 3.25 percent.	
    * Market erases early weakness to build on gains garnered
from strong technical advance in the previous session.	
    * Some commercial buying seen in cocoa - brokers.	
    * Slowdown in the arrival of beans at ports in top
grower/exporter Ivory Coast supportive for bean values.	
	
 (Reporting by Rene Pastor; Editing by John Picinich and Lisa
Shumaker)

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