SOFTS-Cocoa back up to near record peaks; coffee and sugar fall


Adds comments and closing prices

NEW YORK, Feb 13 (Reuters) - Cocoa futures on the ICE exchange were back up on Tuesday after taking a breather in the previous session from a record-setting rally, while coffee and sugar prices slipped.

The higher-than-expected inflation numbers in the U.S. were seen as bearish for commodities as the dollar rose and investors cut exposure to riskier assets.


* May London cocoa LCCc2​settled up 91 pounds, or 2%, to 4,701 pounds per metric ton.

* Cocoa fell on Monday for the first time in 12 trading sessions, having set its ninth successive record high on Friday at 4,786 pounds.

* Morgan Stanley has cut its guidance on chocolate maker Hershey HSY.N to underweight, citing caution over the company's mid-term outlook because of "outsized cocoa inflation ... and weaker consumer demand for confectionery".

* May New York cocoa CCc2 rose 1.2% to $5,652 a ton.


* May arabica coffee KCc2 settled down 3.1 cents, or 1.6%, at $1.8805 per lb.

* Dealers said ICE-certified arabica stocks have finally turned a corner and are heading higher, which is likely to weigh on prices. They rose nearly 15% in the last 20 days to 297,445 bags, and there are 57,259 bags pending grading.

* The weather in top producer Brazil has been dry since the beginning of February, but precipitation is expected to improve in the coming days.

* May robusta coffee LRCc2 fell 0.9% at $3,163 a ton.


* March raw sugar SBc1 ​settled down 0.26 cent, or 1.1%, at 23.30 cents per lb, having settled 1.9% down on Monday.

* Dealers noted the market is falling even when Brazilian mills, who are usually sellers in futures, are off due to Carnival holidays.

* Forecast for more rains in Brazil should give a boost to the new sugarcane crop.

* March white sugar LSUc1 fell 0.1% to $658.20 a ton.

(Reporting by Maytaal Angel and Marcelo Teixeira Editing by David Goodman and Anil D'Silva)

((marcelo.teixeira@tr.com; +1 332 220 8062; Reuters Messaging: marcelo.teixeira.thomsonreuters.com@reuters.net - https://twitter.com/tx_marcelo))

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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