April 26, 2012 / 6:16 PM / 6 years ago

NY sugar ends at 11-month low, coffee down, cocoa up

April 26 (Reuters) - 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
short-covering.	
    	
 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
                                                             
 	
    RAW SUGAR
    * 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. 	
    	
    ARABICA COFFEE
    * 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.    
 	
    	
    COCOA
    * 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 -
traders.	
    * 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    	
       	
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    	
SPEED GUIDES                                 
 	
	
 (Reporting by Marcy Nicholson and Rene Pastor)

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