SOFTS-Uncooked sugar slips from 5-1/2 month peak, arabica additionally falls

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SOFTS-Uncooked sugar slips from 5-1/2 month peak, arabica additionally falls

LONDON, Aug 9 (Reut


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.

Arabica espresso additionally fell.

SUGAR

* October uncooked sugar SBc1 fell 0.9% to 18.51 cents per lb at 1156 GMT, after setting a 5-1/2 month excessive of 18.92 cents pm Friday.

* Sellers stated on stability, sugar will seemingly rebound on bets the crop in prime producer Brazil, which was hit this season by drought and frosts, will proceed to be marked down.

* The beneficial properties in sugar, they stated, will come regardless 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 web lengthy place by 7,467 contracts to 177,380 within the week to Aug. 3, knowledge confirmed.

* October white sugar LSUc1 fell 0.9% to $455.50 a tonne.

COFFEE

* September arabica espresso KCc1 fell 1.4% to $1.7350 per lb.

* The arabica market is struggling to seek out truthful worth, having soared close to seven-year peaks above $2 per lb in July after frosts hit an estimated 11% of the arabica rising space in prime producer Brazil, damaging the crop for at the least the following two seasons.

* ICE espresso speculators raised their web lengthy place by 891 contracts to 33,814 within the week to Aug. 3, knowledge confirmed.

* November robusta espresso LRCc2 rose 0.9% to $1,770 a tonne.

COCOA

* December New York cocoa CCc2 rose 0.4% to $2,483 a tonne.

* ICE cocoa speculators trimmed their web quick place by 684 contracts to 15,484 within the week to Aug. 3, knowledge confirmed.

* Cocoa arrivals at ports in world’s prime grower Ivory Coast reached 2.11 million tonnes between Oct. 1 and Aug. 8, exporters estimated, up 4.8% from a 12 months in the past.

* Ivory Coast cocoa grinders processed 452,000 tonnes of beans by the top of July, down 3.6% from a 12 months in the past, knowledge from cocoa exporters’ affiliation GEPEX confirmed.

* December London cocoa LCCc2 0.8% to 1,720 kilos per tonne​.

(Reporting by Marcelo Teixeira and Nigel Hunt; Modifying by Emelia Sithole-Matarise, Mark Potter and Tomasz Janowski)

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