SOFTS-ICE raw sugar, arabica coffee ease as dollar strengthens

lunes 13 de abril de 2015 09:35 GYT
 

* Conab forecasts larger Brazil sugar cane crop

* Dollar climbs to 4-week high against basket of currencies

By Nigel Hunt

LONDON, April 13 (Reuters) - Raw sugar futures were lower on Monday weighed by a stronger dollar and the prospect of a large crop in top grower Brazil while arabica coffee prices also eased.

The dollar rose to its highest level in four weeks against a basket of currencies on Monday. A stronger dollar makes prices denominated in local currency terms more attractive for producers and can encourage them to sell.

May raw sugar on ICE fell 0.07 cents or 0.55 percent to 12.76 cents a lb by 1257 GMT.

Dealers said the sugar market was back on the defensive after an upside technical correction which saw the May contract rise to a four-week high of 13.13 cents last week.

They also noted a large crop was expected in Brazil despite some minor delays caused by recent wet weather.

"Everyone is expecting a big crop some July onwards. Wet weather is going to delay it a matter of days, not weeks or months," one dealer said.   Continuación...