Updates costs, prov
Updates costs, provides particulars
LONDON, Aug 9 (Reuters) – Uncooked sugar futures on ICE slipped on Monday amid falling oil costs however remained close to Friday’s 5-1/2 month peak on bets Brazil’s cane crop is prone to be considerably smaller than beforehand anticipated.O/R
Arabica espresso costs steadied in the meantime.
SUGAR
* October uncooked sugar SBc1 fell 0.6% to 18.55 cents per lb at 1331 GMT, after setting a 5-1/2 month excessive of 18.92 cents on Friday.
* Sellers mentioned on stability, sugar will possible rebound on bets the crop in high producer Brazil, which was hit this season by drought and frosts, will proceed to be marked down.
* The beneficial properties in sugar, they mentioned, will come despite the fact that provide in India, one other key producer and exporter, stays ample and world demand stays poor, as indicated by the market construction SB-1=R.
* ICE sugar speculators raised their internet lengthy place by 7,467 contracts to 177,380 within the week to Aug. 3, information confirmed.
* October white sugar LSUc1 fell 1% to $454.20 a tonne.
COFFEE
* September arabica espresso KCc1edged up 0.1% to $1.7610 per lb.
* Arabica costs will finish the yr 13% above present ranges at practically $2 per lb – just under a current close to seven-year peak – following freak frosts and a drought in high producer Brazil, a Reuters ballot of 11 merchants and analysts confirmed.
* ICE espresso speculators raised their internet lengthy place by 891 contracts to 33,814 within the week to Aug. 3, information confirmed.
* November robusta espresso LRCc2 rose 2.3% to $1,794 a tonne.
COCOA
* December New York cocoa CCc2edged up 0.1% to $2,475 a tonne.
* ICE cocoa speculators trimmed their internet quick place by 684 contracts to 15,484 within the week to Aug. 3, information confirmed.
* Cocoa arrivals at ports in the world’s high grower, Ivory Coast, reached 2.11 million tonnes between Oct. 1 and Aug. 8, exporters estimated, up 4.8% from a yr in the past.
* Ivory Coast cocoa grinders processed 452,000 tonnes of beans by the tip of July, down 3.6% from a yr in the past, information from cocoa exporters’ affiliation GEPEX confirmed.
* December London cocoa LCCc2rose 0.7% to 1,719 kilos per tonne.
(Reporting by Maytaal Angel; Enhancing by Steve Orlofsky)
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