SOFTS-Sugar firms on tight whites supply, arabica recovers

viernes 8 de enero de 2016 09:13 GYT

* U.S. Commitments of Traders report due later on Friday

* Sugar market shifts into deficit after years of surpluses

By David Brough

LONDON, Jan 8 (Reuters) - Raw sugar futures on ICE edged up again on Friday, underpinned by reduced prospects for Indian exports and tight supplies of white sugar, while arabica coffee and cocoa rose in a technical correction.

March raw sugar was up 0.06 cent, or 0.4 percent, at 14.81 cents per lb at 1247 GMT, having risen earlier this week against the tide of other commodities swept lower amid turmoil in Chinese financial markets.

The global sugar market was shifting into deficit after several years of surpluses, dealers said.

March white sugar was little changed, trading down $0.60, or 0.1 percent, at $428.20 per tonne, having jumped on Thursday to the highest since November 2014 at $432.70.

"Values are hovering either side of unchanged," said Nick Penney, senior trader at Sucden Financial Sugar.

"We feel that having survived the storms early in the week, the wind is set fair for sugar to break out through 15 cents once again," Penney added.   Continuación...