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NY coffee closes lower, cocoa and sugar gain
April 5, 2012 / 6:20 PM / in 6 years

NY coffee closes lower, cocoa and sugar gain

April 5 (Reuters) - Arabica coffee futures on ICE closed
lower Thursday in the face of a firmer dollar while the market
consolidated after the previous session's volatile moves.	
    U.S. cocoa futures settled up a shade in heavy volume,
consolidating after hitting a three-month low on Wednesday,
while raw sugar also meandered upward.    	
    The markets will be closed on Good Friday and will open late
at 7:30 a.m. EDT (1130 GMT) on Monday.	
 2:05 PM      SETTLE    NET     PCT      LOW    HIGH  CURRENT
                       CHNG    CHNG                       VOL
 Sugar MAY     24.58   0.16    0.7%    24.35   24.73   43,373
 Sugar JUL      23.7   0.16    0.7%    23.47   23.83   40,766
 Cocoa MAY      2085      2    0.1%    2,068   2,132   19,992
 Cocoa JUL      2108     -1   -0.1%    2,094   2,150   14,933
 Coffee MAY      183  -1.75   -1.0%   180.95  185.00   14,350
 Coffee JUL    185.5  -1.85   -1.0%   183.45  187.60    9,042
 TOTAL MARKET              VOLUME          
                CURRENT   30D AVG  250D AVG
 ICE SUGAR      121,422   109,973    90,613
 ICE COCOA       41,234    21,523    19,419
 ICE COFFEE      29,868    22,404    20,233
    * May raw sugar futures on ICE rose 0.16 cent, or 0.7
percent, to close at 24.58 cents a lb.	
    * May closed the week down 0.5 percent.	
    * Market continued its sideways move, trapped between 24 and
25 cents.	
    * Concern about dry weather in top grower Brazil's main
growing area kept the market firm while expectations for ample
supplies in the long-term prevented it from rallying - traders.	
    * The U.S. Climate Prediction Center raised the prospect
that El Nino conditions could return after the Northern
Hemisphere summer, causing adverse weather. 	
    * Indonesia has bought 155,000 tonnes of raw sugar from
Thailand, said Heinrich Napitupulu, the chief executive of state
trading company PT Perusahaan Perdagangan Indonesia, as the
country faces a shortage of the sweetener. 	
    * May arabicas fell 1.75 cent to end at $1.83 per lb,
an inside day after Wednesday's volatile session.	
    * On the week, May closed down 0.3 percent.	
    * Market was pressured by the firm U.S. dollar and
commercial hedging - traders.	
    * "So many commodity funds are either long or they're out.
It appears to be commercial business going on. I would say
that's probably pricing in the Brazilian production." - James
Cordier, senior analyst of brokerage in
    * Total open interest climbed by 2,691 contracts to 160,503
contracts, the highest since August 2010 - ICE/Thomson Reuters
    * Brazil cracked down on multinational commodities firms
Wednesday with rules to block them from shifting tax liabilities
to more favorable countries. 	
    * May cocoa rose $2 to settle at $2,085 a tonne. 	
    * On the week, May closed down 6 percent.	
    * Total volume was heavy at more than 41,200 lots, roughly
double its 30-day average - preliminary Thomson Reuters data.	
    * May/July spreading continued to boost volume ahead of
first notice day for May on April 17 - traders.	
    * Market climbed quietly along with the Thomson Reuters CRB
 index, consolidating after closing at a three-month low
on Wednesday - traders.	
    * Open interest jumped by 4,699 lots to 181,349 lots on
April 4, the highest since Nov. 8, 2011 - exchange data.	
    * Higher-than-usual cocoa deliveries to warehouses in Brazil
over the past few weeks from local farms and imports are pushing
arrivals close to last year's levels as the season draws to a
close in April. 	
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)

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