Adds quote, updates costs
LONDON, June 24 (Reuters) – Uncooked sugar futures on ICE had been decrease on Thursday, monitoring losses in lots of different commodity markets together with grains and metals, whereas arabica espresso and cocoa costs additionally fell.
SUGAR
* July uncooked sugar SBc1 fell by 0.18 cent, or 1.1%, to 16.51 cents per lb by 1411 GMT.
* Sellers stated weak demand remained a priority though the market regarded more likely to maintain above Monday’s two-month low of 16.19 cents, no less than within the short-term.
* They famous a small supply was anticipated towards the July contract, which expires on the finish of this month, with the open curiosity persevering with to fall steadily.
* Final yr round 254,000 tonnes was tendered towards the July contract.
* The market was awaiting the discharge, presumably this week, by business group UNICA of cane and sugar manufacturing information for the Centre-South of Brazil protecting the primary half of June.
* The info is predicted to indicate that sugar output within the interval was broadly according to the two.55 million tonnes produced in the identical interval final yr.
* August white sugar LSUc1 fell by $5.40, or 1.3%, to $418.20 a tonne.
COFFEE
* September arabica espresso KCc2 fell by 0.35 cents, or 0.2%, to $1.5355 per lb.
* Sellers stated current rains had improved the outlook for subsequent yr’s arabica crop in Brazil though dry climate stays a priority.
* “Brazil’s climate will proceed to be the main focus of the market. Some remoted showers are serving to keep away from a whole depletion of soil moisture throughout the present dry season,” Rabobank stated in a report, including the quantity of rain was very small and was not impeding this yr’s harvest.
* September robusta espresso LRCc2 rose by $16, or 1%, to $1,639 a tonne.
COCOA
* September New York cocoa CCc2 fell by $22, or 0.9%, to $2,347 a tonne.
* September London cocoa LCCc2 fell by 7 kilos, or 0.4%, to 1,608 kilos a tonne.
(Reporting by Nigel Hunt;Enhancing by Elaine Hardcastle)
((nigel.hunt@thomsonreuters.com; +44 20 7542 8421; Reuters Messaging: nigel.hunt.thomsonreuters.com@reuters.web ))
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