SOFTS-Arabica coffee plunges nearly 4% as Brazil exports jump

Credit: REUTERS/Paulo Whitaker

Updates with market activity, includes comments and closing prices

NEW YORK/LONDON, Oct 12 (Reuters) - Arabica coffee futures on ICE lost nearly 4% on Wednesday as a rise in exports from top grower Brazil helped ease concerns about short-term supply tightness.


* December arabica coffee KCc1 settled 8.1 cents, or 3.7%, lower at $2.0975 per lb​, the lowest price in more than two months.

* Arabica coffee exports from Brazil rose 18% to 2.93 million bags in September compared to the same month last year, industry group Cecafe said late on Tuesday.

* Dealers noted that rains in Brazil had aided the flowering in coffee fields, a key development for next year's crop, although there is a long way for crop development.

* ICE certified arabica stocks were unchanged at 416,399 bags.

* January robusta coffee LRCc2 fell $19, or 0.9%, at $2,141 a tonne.


* March raw sugar SBc1 ​settled 0.06 cent, or 0.3%, lower at 18.68 cents per lb, after earlier hitting the highest in nearly three months at 18.94 cents/lb.

* "Rainfall in Brazil will likely keep spot prices well supported," Rabobank said in a note.

* Sugar production in centre-south Brazil during the second half of September totalled 1.7 million tonnes, down 27% from the same period a year earlier and below market estimates.

* Heavy rainfall has also spoiled Indian sugar mills' plans for an early start to cane crushing so raw sugar exports could begin before supplies start coming on the market from rival exporter Thailand, a senior industry official and dealers said.

* December white sugar LSUc1 fell $3.40, or 0.6%, at $554.60 a tonne.


* March London cocoa LCCc2 fell 8 pounds, or 0.4%, to 1,905 pounds per tonne​, having touched a more than two-year peak of 1,954 pounds on Monday.

* The market was awaiting the release on Thursday of Europe's third quarter cocoa grind.

* Cameroon and Nigeria have requested to join the Cote d'Ivoire-Ghana Cocoa Initiative (CIGCI), a joint body spearheading the interests of the two countries in the international cocoa trade.

* December New York cocoa CCc1 fell $29, or 1.2%, to $2,318 a tonne.

(Reporting by Marcelo Teixeira and Nigel Hunt Editing by David Goodman, Kirsten Donovan and Krishna Chandra Eluri)

((; +1 332 220 8062; Reuters Messaging: -

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

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.