May 10 (Reuters) - Raw sugar and arabica coffee futures
settled firmer on Thursday, extending gains after bouncing off
multi-month lows in the previous session.
U.S. cocoa futures inched higher in thin and consolidative
dealings.
1:59 PM SETTLE NET PCT LOW HIGH CURRENT
CHNG CHNG VOL
Sugar JUL 20.45 0.07 0.3% 20.30 20.70 40,862
Sugar OCT 20.83 0.04 0.2% 20.71 21.07 17,563
Cocoa MAY 2390 26 1.1% 2,333 2,396 33
Cocoa JUL 2338 4 0.2% 2,305 2,352 7,645
Coffee MAY 178.5 3.35 1.9% 0.00 0.00 16
Coffee JUL 178.65 3.6 2.1% 174.85 179.60 10,954
TOTAL MARKET VOLUME
CURRENT 30D AVG 250D AVG
ICE SUGAR 72,054 119,763 92,901
ICE COCOA 13,163 26,637 20,231
ICE COFFEE 16,319 28,091 20,728
RAW SUGAR
* Most-active July crept up 0.07 cent to
finish at 20.45 cents per lb.
* Market up slightly in rebound after falling sharply the
past few weeks - brokers.
* Raw sugar values have fallen almost 25 percent since late
February - Thomson Reuters data.
* Advances capped by prospect of bumper supplies from top
producer/exporter Brazil and the likelihood No. 2 producer India
will be a large exporter of the sweetener later in the year
weighed on values.
* "It's just consolidating," said Alex Oliveira, senior
sugar analyst at brokerage Newedge USA.
* Cash business picked up, with increased inquiries from
countries such as Russia among others.
ARABICA COFFEE
* July arabicas futures rose 3.60 cents, or 2.1
percent, to close at $1.7865 per lb.
* Chart-based buying lifts the market on positive buy
signals after the market closed higher on Wednesday following an
intraday drop to the lowest since August 2010 - traders.
* Market digested Brazil's official 2012/13 crop estimate,
which was lower than many private forecasts - traders.
* Brazil's agriculture ministry said on Thursday it
estimated its 2012/13 coffee crop at 50.45 million 60-kg bags,
compared with a range of 49 million to 52.3 million bags
forecast in December.
* Earlier weakness in the U.S. dollar also helped
lift the market - traders.
COCOA
* July cocoa closed up $4 at $2,338 per tonne.
* July closed above the 60-day moving average for the fourth
straight day.
* Market moved in choppy and light dealings as the market
consolidated after climbing nearly 15 percent in the past month,
rising up from a three-month low - traders.
* Marex Spectron estimates 2011/12 world cocoa output will
fall 19,000 tonnes short of grindings, smaller than its February
estimate of a 94,000 tonne deficit, partly due to improved
production prospects.
* ICE certified stocks fell by 9,976 bags to 5,351,049 bags
on May 9 - exchange data.
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
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