Updates with closing costs, provides feedback
NEW YORK/LONDON, June 11 (Reuters) – Sugar costs on ICE closed down on Friday because of indicators of ample provides, although the market remained inside latest ranges. Cocoa and occasional costs additionally closed decrease.
SUGAR
* July uncooked sugar SBc1settled down 0.12 cent, or 0.7%, at 17.54 cents per lb.
* August white sugar LSUc1settled down $3.40, or 0.7%, at $451.30 a tonne.
* Sellers mentioned the widening reductions for entrance month versus second month uncooked and white sugar SB-1=R, LSU-1=R indicated close by provides remained plentiful, however added there was good shopping for from end-users at round 17.60, retaining costs range-bound.
* There was additionally speak of excessive delivery charges hurting bodily demand, with some patrons keen to postpone offers and await freight charges to fall.
* Knowledge confirmed sugar manufacturing in the important thing Middle-South area of high producer Brazil totalled 2.62 million tonnes within the second half of Might – above market expectations.
COFFEE
* July arabica espresso KCc1settled down 1.25 cent, or 0.8%, at $1.5745 per lb. The contract hit a 4-1/2-year excessive final week.
* Sellers mentioned issues stay about subsequent 12 months’s crop in high arabica producer Brazil, after extreme dryness broken the present crop, however rains this week would doubtless enhance crop prospects.
* Brazilian growers offered 40% of this 12 months’s crop by June 8, a a lot faster promoting tempo than seen presently in earlier seasons, consultancy Safras & Mercado mentioned on Friday.
* There are indicators anti-government protests that disrupted exports like espresso in world No. 2 arabica producer Colombia are shedding steam.
* July robusta espresso LRCc1settled up $7, or 0.4%, at $1,592 a tonne.
COCOA
* September New York cocoa CCc2 settled down $31, or 1.3%, to $2,402 a tonne.
* World No. 2 cocoa producer Ghana’s bean arrivals at ports reached 924,385 tonnes by Might 27 for the reason that begin of the season on Oct. 1, up 25.3% from final season.
* Cocoa has sharply underperformed different smooth commodities this 12 months. Sellers mentioned the market was struggling for course and appeared range-bound for now.
* September London cocoa LCCc2 was flat at 1,622 kilos per tonne.
(Reporting by Marcelo Teixeira and Maytaal Angel; Modifying by Pravin Char and Leslie Adler)
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