24 января 2013 года
LONDON, Jan 24 (Reuters) - Arabica coffee futures edged higher on Thursday, underpinned by concerns of a tree disease spreading in Central America, while raw sugar futures on ICE steadied above the previous session's more than two-ear low.
Cocoa was little changed as dealers sensed improving supply prospects.
COFFEE
* March arabica coffee futures on ICE rose 0.40 cents or 0.3 percent to $1.5080 per lb at 1004 GMT with the market trimming losses after falling sharply earlier in the week.
* Dealers said the threat of a coffee tree disease known as roya or leaf rust spreading further in Central America supported prices.
* The El Salvador government launched a $3 million plan on Wednesday to combat a coffee fungus outbreak that has already plagued fellow Central American producers and threatens to destroy its own coffee plants.
* An established regimen of fungicide use has so far protected Brazil from epidemics of leaf rust such as the one now ravaging Central American coffee farms, but the threat the disease poses in the world's top coffee producer is increasing.
* New York March coffee KCH3 is expected to fall to $1.4520 per lb, as a wave (b) has not completed, according to Reuters market analyst Wang Tao.
* March robusta coffee futures rose $10 or 0.5 percent to $1,972 a tonne.
* Indonesian robustas fetched a wide range of premiums this week because of a lack of offers ahead of the main crop, while exporters in rival Vietnam were busy shipping beans before a long holiday break next month, dealers said on Thursday.
* Vietnam has cut the interest rate on dong loans used to support export activities to 10.2 percent per year from 11.4 percent, the central bank said on Thursday.
SUGAR
* March raw sugar futures on ICE edged 0.02 cent lower to 18.48 cents a lb, after falling to 18.06 cents the previous session, the lowest level for the front-month since August 2010.
* Having broken below key technical support levels, dealers said the market was vulnerable to further losses.
* New York March sugar SBH3 is expected to end the current rebound below a resistance at 18.71 cents per lb and drop back towards its Wednesday low of 18.06 cents, according to Reuters market analyst Wang Tao.
* Russian sugar exports will fall to 40,000 tonnes in the 2012/2013 crop year from more than 205,000 in the previous season because of poor export economics, the Institute for Agricultural Market Studies (IKAR) said on Thursday.
* State-run Thai Cane and Sugar Corp (TCSC) sold 31,333 tonnes of raw sugar to international trading houses at premiums ranging from 80 to 101 points over U.S. futures, a senior official said on Thursday.
* ICE Futures U.S. ICE.N said it will lower margin requirements for trading cotton, corn, wheat, sugar and soybean meal, effective with the open of business Friday, Jan. 25.
* March white sugar on Liffe fell $2.60 or 0.5 percent to $487.00 per tonne. The contract dipped to $480.80 on Wednesday, the lowest level for the front month since June 2010.
COCOA
* Cocoa prices were little changed in early trading with supply prospects improving in West Africa where weather has been favourable for the development of the mid crop.
* March cocoa futures on ICE rose $2 or 0.1 percent to $2,217 per tonne, with the market consolidating above Wednesday's low of $2,191, the weakest level for the front month since July 2012.
* Signals are mixed for New York March cocoa CCH3, as it is not clear that a downward wave C has completed, according to Reuters market analyst Wang Tao.
* May cocoa futures on Liffe rose 2 pounds or 0.1 percent to 1,455 pounds a tonne.
MARKETS
* European shares weakened on Thursday as investors braced for the year's first reading on euro zone business activity for 2013 after data showed that France, the region's second-biggest economy, may be in recession.
* Brent crude oil prices held above $112 a barrel on Thursday, supported by upbeat manufacturing data from China and Germany, but U.S. crude stocks remained in focus after capacity in the Seaway pipeline was reduced.
* The dollar and the euro rose more than one percent against the yen on Thursday after Japanese Prime Minister Shinzo Abe said he expected the Bank of Japan to achieve its 2 percent inflation goal as soon as possible.
Source: Reuters |
#cereal #sugar |
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