SOFTS-Sugar steadies before Brazil cane data; cocoa, coffee dip

martes 12 de enero de 2016 07:32 GYT

* European Q4 cocoa grind may rise by 2 to 3 percent

* Centre-south Brazil cane crush data due to be released

By David Brough

LONDON, Jan 12 (Reuters) - ICE raw sugar futures steadied near a two-month low on Tuesday before the release of centre-south Brazil cane crush data, while cocoa edged down with a focus on fourth quarter European grind data due on Friday.

Arabica coffee futures dipped, with dealers assessing prospects for the next harvest in top grower Brazil.

Sugar consolidated after a sell-off on Monday, in which it was swept along with a broad-based decline in commodities led by crude oil.

"The wet weather in Brazil was bad for the 2015 crop but should be good for the 2016 crop," said Hamish Smith, commodities economist with Capital Economics.

He said he did not expect the crush data from cane group Unica for the second half of December, expected to be released later on Tuesday, to have any market impact because centre-south Brazil was in the very final stages of crushing in that period.

"The focus now will be prospects for the next harvest in centre-south Brazil," Smith said.   Continuación...