Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Commodities  >  London Sugar       

LONDON SUGAR

SummaryChartsNews 
SummaryMost relevantAll NewsMarketScreener Strategies

SOFTS-Raw sugar bounces off 3-week low and ends flat; cocoa and coffee weaken

12/01/2020 | 05:09pm EST

NEW YORK/LONDON, Dec 1 (Reuters) - Raw sugar futures on ICE bounced off the lowest level in more than three weeks and ended unchanged on Tuesday, while cocoa and coffee prices weakened.

SUGAR

* March raw sugar settled the session unchanged at 14.51 cents per pound, after dipping to a low of 14.40 cents, the weakest since Nov. 6.

* Dealers said the market appeared to have lost its upward momentum after its run-up to an 8-1/2-month high in mid-November and funds were now scaling back long positions.

* The market continued to await an announcement from India on its export policy for the current season with a lower volume of subsidised exports, perhaps of around 5 million tonnes, now anticipated in the current season.

* March white sugar settled the session unchanged at $398.80 a tonne after hitting an intraday high of $404.70.

COCOA

* March New York cocoa settled down $48, or 1.8%, to $2,691 a tonne.

* Dealers said there had been a strong start to the main crop in top grower Ivory Coast although recent dry weather has raised some concerns.

* "Though deliveries in Ivory Coast are so far 12% up year-on-year, there are fears that below-average rainfall could significantly drive down the crop volume early in 2021," Commerzbank said in a note.

* Dealers noted weak demand was also weighing on prices although some recovery is anticipated in 2021 as restrictions linked to the COVID-19 pandemic are lifted.

* March London cocoa settled down 36 pounds, or 1.9%, to 1,822 pounds per tonne.

COFFEE

* March arabica coffee settled down 4.85 cents, or 3.9%, at $1.1845 per lb with recent rains providing some relief to crops in southern Brazil.

* March robusta coffee fell $17, or 1.2%, to $1,388 a tonne. (Reporting by Nigel Hunt in London, additional reporting by Jessica Resnick-Ault Editing by Louise Heavens, Matthew Lewis and David Gregorio)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) 0.12% 6.387 Delayed Quote.-0.49%
All news about LONDON SUGAR
01/14Zico Beverage Brand Founder Buys Company Back From Coca-Cola
DJ
01/14Agrana's Nine-Month Profit Climbs as Sugar Boosts Revenue
MT
01/14ASSOCIATED BRITISH FOODS : Correction to AB Foods Article
DJ
01/14ASSOCIATED BRITISH FOODS : AB Foods 16-Week Revenue Hit by Store Closures, Prima..
DJ
01/14ASSOCIATED BRITISH FOODS : AB Foods 16-Week Revenue Hit by Store Closures, Prima..
DJ
01/13Cargill in talks to exit sugar trading JV Alvean, says Brazil's Copersucar
RE
01/13Cargill in talks to exit sugar trading JV Alvean, says Copersucar
RE
01/10Egypt's Delta Sugar targets 330,000 tonnes of output this season - ministry
RE
01/07Indian sugar mills clinch export deals as prices jump -industry
RE
01/07Harte Gold Says 2020 Production From Sugar Zone Mine Tops Guidance, Says Outp..
MT
More news
Chart LONDON SUGAR
Duration : Period :
London Sugar Technical Analysis Chart | MarketScreener