May 9 (Reuters) - Raw sugar futures settled up a shade in
thin dealings on Wednesday, recovering after hitting a 20-month
low as risk-off selling eased later in the session and the
commodity complex pared losses.
Arabica coffee also changed direction and closed a smidgen
higher after hitting the lowest level since August 2010, while
U.S. cocoa turned around to end firm.
1:59 PM SETTLE NET PCT LOW HIGH CURRENT
CHNG CHNG VOL
Sugar JUL 20.38 0.01 0.1% 20.13 20.54 51,500
Sugar OCT 20.79 -0.02 -0.1% 20.58 20.95 27,308
Cocoa MAY 2364 8 0.3% 2,314 2,359 11
Cocoa JUL 2334 8 0.3% 2,284 2,339 9,639
Coffee MAY 175.15 0 0.0% 172.90 176.80 19
Coffee JUL 175.05 0.1 0.1% 172.20 176.60 11,764
TOTAL MARKET VOLUME
CURRENT 30D AVG 250D AVG
ICE SUGAR 102,039 120,231 92,745
ICE COCOA 17,919 26,568 20,205
ICE COFFEE 17,829 28,457 20,781
RAW SUGAR
* Most-active July inched up 0.01 cent to
close at 20.38 cents per lb.
* July extended the previous day's losses and fell to a low
at 20.13 cents per lb intraday, the lowest for the spot contract
since September 2010.
* The market was choppy in light dealings, turning slightly
positive at times as the commodity complex clawed back early
losses and the U.S. dollar pared gains - traders.
* Ample global supplies weighed on sugar futures -traders.
* Total open interest jumped by 6,060 lots to 715,111 lots
on May 8 - ICE data.
ARABICA COFFEE
* July arabicas futures inched up 0.10 cent to finish
at $1.7505 per lb.
* July dropped to $1.7220 per lb intraday, the lowest since
August 2010.
* Pressure came from risk-off selling in the commodity
complex as fears the euro zone debt crisis will deepen -
traders.
* The firm U.S. dollar also weighed on the market
that turned higher late in the session as the greenback pared
its gains - traders.
* Brazil's coffee crop faces a smaller risk of frost this
year, forecasters said, lowering chances that the world's
biggest producer will suffer freezes that contributed to 34-year
high in prices last year.
COCOA
* July cocoa settled up $8, or 0.3 percent, at $2,334
per tonne
* July closed above the 60-day moving average for the third
straight day.
* Market pressured by weak sterling against the U.S.
dollar but cocoa futures turned higher as sterling pared losses
- traders.
* Favorable weather was expected to boost West Africa's mid
crop - traders.
* ICE certified stocks dropped by a heavy 17,252 bags to
5,361,025 bags on May 8 - 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
All sugar news All coffee news
All cocoa news All softs news
All commodities news Softs diary
Weather news Foreign exchange rates
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