SOFTS-Arabica coffee prices ease, sugar and cocoa climb

LONDON, Feb 27 (Reuters)Arabica coffee futures on ICE were lower on Monday, slipping further from last week’s four-month peak, while sugar and cocoa prices were higher.


* May arabica coffee KCc2 was down 0.7% at $1.8645 per lb by 1101 GMT after climbing last week to a four-month high of $1.9415.

* The recent run-up has also been fuelled by short covering by speculators, which now appears to have abated.

* The market continued to be underpinned, however, by tightness in physical markets in Brazil and Colombia and declining exchange stocks.

* Certified arabica stocks at the Intercontinental Exchange stood at 800,137 60kg bags on Feb. 24 after falling by more than 90,000 bags from a 7-1/2 month peak set on Feb. 8.

* May robusta coffee LRCc2 was down 1.1% at $2,128 a tonne.

* Uganda’s coffee exports in January rose 23% from the same month last year, according to a Uganda Coffee Development Authority (UCDA) report seen by Reuters on Saturday.


* March raw sugar SBc1 rose 1.2% to 21.53 cents per lb.

* Dealers said the market continued to derive support from short-term supply tightness, with the March premium to May SB-1=R at about 1.70 cents ahead of its expiry on Tuesday.

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* Dealers noted many market participants were away this week at the annual Dubai sugar conference.

* May white sugar LSUc1 gained 0.4% to $564.20 a tonne.


* May New York cocoa CCc2 rose 0.7% to $2,767 a tonne, edging back towards last week’s one-year high of $2,812.

* Dealers said the market was supported by tight supplies in top grower Ivory Coast.

* May London cocoa LCCc2 rose 0.8% to 2,133 pounds a tonne.

(Reporting by Nigel Hunt Editing by David Goodman )

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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