Raw sugar futures rise amid La Nina concerns, coffee down
Adds comments and closing prices
NEW YORK, Oct 11 (Reuters) - Raw sugar futures on ICE closed up on Friday, edging away from the three-week low hit earlier this week, as investors grew concerned the La Nina weather phenomenon might hurt the crop in top producer Brazil.
SUGAR
* March raw sugar SBc1 rose 0.4% to 22.24 cents per lb. The contract, however, posted a 3.3% loss for the week.
* There is a 60% chance of La Nina weather conditions emerging in September-November and it is expected to persist through January-March 2025, a U.S. government forecaster said.
* Dealers said La Nina could lead to dry conditions in Brazil, which is worrying given the low soil moisture levels following the drought earlier this year.
*Sugar production in Brazil's key center-south fell 16.2% in the second half of September versus a year ago, industry group UNICA said. The figure was slightly below market forecasts.
* The USDA projected on Friday that the United States will have a record sugar production.
* December white sugar LSUc1 rose 0.5% at $569.70 a metric ton.
COFFEE
* December arabica coffee KCc1 settled down 2.7 cents, or 1.1%, at $2.5205 per lb. It lost 2% in the week, after another loss of 4.3% in the previous week.
* Most arabica regions in Brazil saw good rains in the last two days, and more is expected next week.
* November robusta coffee LRCc1 fell 1.8% at $4,828 a ton. The contract lost 5% in the week and 8% in the previous week.
* Consultancy Safras & Mercado said Brazilian robusta farmers have mostly left the market following the recent price falls. It also noted a reduction in the foreign interest for Brazilian robusta.
* "Lower differentials for robustas from Asia made them more competitive compared to Brazilian beans," it said.
COCOA
* March London cocoa LCCc2 settled up 146 pounds, or 3%, to 5,084 pounds per ton, having gained 13% in the week.
* Cocoa is gaining some support from the situation in top grower Ivory Coast, where the damageinflicted by heavy rains on roads is hampering the harvest, drying and transportation of cocoa beans to ports.
* Against that, however, dealers said the current crop in No. 2 grower Ghana is looking good.
* December New York cocoa CCc1 rose 2.8% to $7,739 a ton. The contract gained 9% in the week.
Reporting by Maytaal Angel and Marcelo Teixeira; Editing by Shilpi Majumdar, Tasim Zahid and Shreya Biswas
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
