Commodities

SOFTS-Arabica coffee prices rise, sugar and cocoa also up

Credit: REUTERS/DARREN WHITESIDE

Arabica coffee futures on ICE were higher on Thursday as the market waited to see if there would be sufficient rain in Brazil over the next few days to aid the flowering of next year's crop while cocoa and sugar prices also rose.

LONDON, Oct 7 (Reuters) - Arabica coffee futures on ICE were higher on Thursday as the market waited to see if there would be sufficient rain in Brazil over the next few days to aid the flowering of next year's crop while cocoa and sugar prices also rose.

COFFEE

* December arabica coffee KCc1 rose 0.9% to $1.9515 per lb by 1140 GMT.

* Dealers said the market continued to derive support from concerns that dry weather in top producer Brazil could hurt the flowering of next year's crop although some rains are forecast over the next few days.

* November robusta coffee LRCc1 was up 0.4% at $2,125 a tonne.

* The robusta market's focus is beginning to turn to the harvest in top producer Vietnam, which is due to start next month.

COCOA

* December New York cocoa CCc1 rose 0.7% to $2,734 a tonne, edging up towards Monday's 10-month peak of $2,792.

* The market remained underpinned by heavy rainfall in top producer Ivory Coast that has triggered an outbreak of fungal black pod disease in some regions.

* Dealers were also beginning to focus on third quarter grind data due to be issued next week, with an overall year-on-year rise anticipated as demand begins to revive.

* The European grind is due to be issued on Wednesday and the North American grind on Thursday.

* December London cocoa LCCc1 was 0.4% higher at 1,868 pounds a tonne​.

SUGAR

* March raw sugar SBc1 was up 1.2% at 20.00 cents per lb.

* Dealers said the market lacked any clear overall trend while trading volumes were currently low.

* December white sugar LSUc1 rose 1.1% to $514.00 a tonne.

(Reporting by Nigel Hunt; Editing by Steve Orlofsky)

((nigel.hunt@thomsonreuters.com; +44 20 7542 8421; Reuters Messaging: nigel.hunt.thomsonreuters.com@reuters.net ))

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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