SOFTS-ICE coffee falls on profit-taking after week's rally

viernes 25 de abril de 2014 14:53 GYT
 

* Arabica plunges nearly 5 pct on sell-stops in late trade

* Brazil crop doubts set to keep trading volatile -analyst

* Raw sugar set for up week as drought hurts Brazil output (Updates with closing prices, details on late-day trade)

By Chris Prentice and David Brough

NEW YORK/LONDON, April 25 (Reuters) - ICE arabica coffee futures tumbled by 8 cents a lb on Friday as traders booked profits at the end of a fifth straight weekly gain that sent prices to a 26-month high on estimates for lower output in top grower Brazil because of a drought.

Raw sugar futures crawled to their first weekly gain in four weeks after this week's Brazil industry data showed drought has hurt early harvesting in the top producer.

ICE cocoa futures eased and saw their biggest weekly loss since January.

The benchmark July arabica coffee contract on ICE Futures U.S. tumbled nearly 5 percent as sell-stops propelled the losses in late trade and settled down 7.8 cents, or 3.6 percent, at $2.07 per lb.

This week the second-month climbed to $2.19, the highest for the second-month since February 2012 and up over 80 percent year-to-date.   Continuación...