Robusta coffee futures hit 4-week high, cocoa climbs
Updates prices
LONDON, Aug 19 (Reuters) -Robusta coffee futures rose to a four-week peak on Monday as a slowdown in shipments from Vietnam tightened global supplies, and cocoa prices were also higher.
COFFEE
* November robusta coffee LRCc2 rose 1% to $4,496 a metric ton by 1340 GMT after setting a four-week peak of $4,535.
* Dealers said exports from the largest robusta producer Vietnam continued to lag year-ago levels.
* Uganda's coffee exports jumped 27.2% year-on-year in July, helped by a good harvest from one of the producing regions, the state-run Uganda Coffee Development Authority said on Saturday.
* December arabica coffee KCc2 rose 0.5% to $2.4525 per lb after hitting a five-week high of $2.4820.
COCOA
* December New York cocoa CCc2 rose by 5.6% to $7,481 a ton.
* Dealers said short-term supplies remained tight with September's premium to December CC-1=R widening to around $1,805 a ton, up from $1,550 indicated at Friday's close.
* A potential rebound in production in West Africa later this year, however, could provide some relief.
* December London cocoa LCCc2 rose 3.6% to 5,578 pounds a ton.
SUGAR
* October raw sugar SBc1 fell 0.1% to 18.03 cents per lb.
* Dealers said the market has ample supplies although an expected slowdown in exports from Brazil later this year underpinned the market.
* Global raw sugar prices SBc1 are expected to regain ground during the remainder of 2024 but still end with a small annual loss of less than 3%, a Reuters poll of 10 traders and analysts showed on Monday.
* Speculators reduced their bearish bets in futures of raw sugar on ICE U.S. in the week to Aug. 13, the Commodity Futures Trading Commission (CFTC) said on Friday.
* October white sugar LSUc1 rose 0.1% to $517.20 a ton.
Reporting by Nigel Hunt; Editing by Shailesh Kuber and Barbara Lewis
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
