Back Nov 09, 2024

London cocoa settles lower, sugar and coffee also fall

 - London cocoa futures settled lower on Friday after earlier climbing to a three month peak, while sugar and coffee prices also fell.

COCOA

* March London cocoa LCCc2 settled down 0.4at5,616 pounds a metric ton after earlier setting a three-month high of 5,750 pounds.

* Dealers noted reports this week that port arrivals in Ivory Coast by the end of January could be below last year's estimated levels.

* Port arrivals have been running above last season's pace but could drop in December after constant rains and floods and brown rot fungal disease.

* March New York cocoa CCc2 fell by 2.7% to $6.987 a ton.

SUGAR

* March raw sugar SBc1 fell by 1.7% to 21.82 cents per lb.

* Dealers noted that data on sugar production in Centre-South Brazil in the second half of September is expected to be issued by industry group Unica in the next few days.

* Sugar production in Brazil's key Centre-South is expected to have fallen by 28.3% year on year to 1.69 million tons in the second half of September, an S&P Global Commodity Insights survey showed.

* December white sugar LSUc1 settled 1.1lower at$556.60 a ton.

COFFEE

* March arabica coffee KCc2 settled 2.6lower at$2.531per lb.

* Dealers said the expiry of December options on Friday provided a short-term focus.

* January robusta coffee LRCc2 dropped 2.5%to $4,376 a ton, with the market keeping a close watch on the harvest in top robusta producer Vietnam.

* There were some concerns that Typhoon Yinxing could lead to rain in the coffee belt and slow harvest progress.

* The typhoon lashed the northern Philippines on Friday, with violent winds and rain damaging houses and power lines.


Source: XM

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