NY cocoa buoyed by tight supplies while sugar rebounds
Adds comment, updates prices
LONDON, Aug 23 (Reuters) -New York cocoa futures were slightly higheron Friday, edging back up towards a one-month high set on Wednesday, while raw sugar prices rebounded from lows hit earlier this week.
COCOA
* December New York cocoa CCc2 rose 0.3% to $7,775a metric ton by 1333GMT after settinga one-month high of $7,915 on Wednesday.
* Dealers said expectations that crops in West Africa would rebound significantly in the 2024/25 season had faded slightly, with Ghana's Cocobod this week cutting its forecast for the coming crop because of a lack of rain.
* They noted that the market was supported by supply tightness owing to a record global deficit in the current 2023/24 season (October/September), which the International Cocoa Organization (ICCO) last estimated at 439,000 tons.
* "The ICCO will publish new forecasts at the end of next week. Due to the robust grinding figures for the second quarter, the supply deficit could even be slightly larger," Commerzbank said in a note on Friday.
* A Reuters poll of analysts and traders this month had a median forecast for a deficit of 475,000 tons.
* December London cocoa LCCc2 rose 0.05% to 5,472pounds a ton.
SUGAR
* October raw sugar SBc1 rose 1.9% to 18.19cents per lb.
* Dealers said the recovery from the almost two-year low of 17.52 cents - hit on both Tuesday and Wednesday - was largely technically driven and that supportive fundamentals were needed to sustain the rebound.
* They were keeping a close watch on the potential for a pick-up in Chinese buying after the recent fall in prices.
* October white sugar LSUc1 rose 1.9% to $521.60 a ton.
COFFEE
* November robusta coffee LRCc2 was unchanged at $4,574a ton, with the market hoveringjust below a $4,658 one-month high set this week.
* Analyst BMI said in a note that Vietnamese exports had fallen due to tight supplies in the world's largest robusta producer while the prospects for the next harvest had been dented by below-average rainfall.
* December arabica coffee KCc2 rose 0.1% to $2.4315per lb.
Reporting by Nigel Hunt; Editing by David Goodman and Ana Nicolaci da Costa
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
