Updates with closing costs
LONDON, Sept 6 (Reuters) – Robusta espresso futures on ICE hit a four-year peak on Monday on tightening provides, whereas London cocoa futures hit new six-month highs.
U.S. markets had been closed for a public vacation.
COFFEE
* November robusta espresso LRCc2closed up 1.4% to $2,087 a tonne, having set a four-year excessive of $2,094.
* Sellers mentioned the huge value low cost for robusta versus arabica is tempting roasters to purchase the bean as an alternative of its pricier counterpart.
* A strict coronavirus lockdown in high robusta producer Vietnam coupled with transport delays can be boosting costs.
* December arabica espresso KCc2 closed down 0.7% at $1.93 per lb on Friday, having gained 0.4% on the week.
* Speculators raised their internet lengthy place in ICE arabica futures within the week to Aug. 31 by 3,176 contracts to 30,644.
* Rabobank mentioned dry and sizzling climate in high arabica producer Brazil may imply a vital delay to espresso crop flowering.
COCOA
* December London cocoa LCCc2closed up 0.8% at1,815 kilos per tonne, having scaled its highest since early March at 1,818.
* The premium for December cocoa over March LCC-2=R is close to its highest since mid-March, with many anticipating provides to tighten within the October-September 2021/22 season.
* December New York cocoa CCc2 closed up 1.6% at $2,654 a tonne on Friday, having gained 3% on the week.
* Speculators diminished their internet lengthy place in New York cocoa by 5,201 contracts to 1,724 within the week to Aug. 31.
SUGAR
* October white sugar LSUc1closed up 0.5% at $487.60 a tonne.
* Germany’s refined sugar manufacturing from beets within the new 2021/22 season is forecast to rise to some 4.38 million tonnes from 4.10 million tonnes.
* October uncooked sugar SBc1 closed down 1.4% on Friday at 19.62 cents per lb, having misplaced 2% on the week.
* Speculators diminished their internet lengthy place in ICE uncooked sugar by 7,262 contracts to 191,937.
* Marex Spectron mentioned uncooked sugar, which scaled 4-1/2 yr highs final month, is seen ending the yr on a comparatively bearish be aware on account of low demand for whites and raws.
* The dealer sees the long run image as extra bullish nevertheless on account of falling output in high producer Brazil.
(Reporting by Maytaal Angel; Enhancing by Jason Neely, Jan Harvey and Jane Merriman)
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