SOFTS-Raw sugar futures ease, cocoa and coffee climb


Includes closing prices, adds comments

NEW YORK/LONDON, April 19 (Reuters) - Raw sugar futures closed more than 2% down on ICE on Monday, suffering a setback after last week's steep climb to a six-week peak, while cocoa and coffee prices rose.


* May raw sugar SBc1 ​settled down 0.43 cent, or 2.6%, at 16.29 cents per lb. The front month rose to a peak of 16.80 cents on Friday, its highest since Feb. 26.

* Dealers said there was some profit-taking on Monday's session after the recent advance driven by fund buying against the backdrop of diminished crop prospects in the European Union and Centre-South Brazil.

* "We have had more time to evaluate the results of a late frost in the South/Central areas of the EU beet belt; the frost has killed a lot of the recently germinated beet plants, so farmers are left with a difficult choice – to re-sow or not," Marex Spectron analyst Robin Shaw said in a note.

* August white sugar LSUc1​​settled down $9.30, or 2.0%, at $454.00 a tonne.

* India's sugar consumption during the peak demand season is set to fall for a second straight year after various states imposed restrictions to halt rising cases of COVID-19.


* July London cocoa LCCc2​​settled up 4 pounds, or 0.2%, to 1,635 pounds per tonne​.

* Dealers noted cocoa grind data for the first quarter of 2021, issued last week, had provided a mixed picture with a year-on-year rise in North America but a decrease in Europe.

* "Possibly this is because the vaccination rollout has made more progress in the U.S., allowing an increased return to normal public life, whereas the situation in Europe is still dominated by tough restrictions," Commerzbank said in a note.

* July New York cocoa CCc2​​settled up $28, or 1.1%, to $2,492 a tonne.


* July arabica coffee KCc2settled up 0.7 cent, or 0.5%, at $1.319 per lb, recovering from Friday's setback.

* Brazil coffee areas are expected to remain mostly dry in coming days, which could hurt final bean development as the country approaches harvest time for arabica.

* July robusta coffee LRCc2settled up $5, or 0.4%, at $1,385 a tonne.

(Reporting by Marcelo Teixeira and Nigel Hunt; Editing by Jan Harvey, Jonathan Oatis and Sonya Hepinstall)

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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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