SOFTS-Raw sugar steadies, cocoa dips on firmer pound

martes 1 de marzo de 2016 11:50 GYT

* Wilmar scoops up raw sugar delivery - traders

* Concerns over dry weather impact on Ivorian mid-crop (Adds trade comment, updates prices)

By David Brough

LONDON, March 1 (Reuters) - Raw sugar futures on ICE steadied on Tuesday as the market took stock of a 600,000-tonne delivery against expiry of the March contract, while London cocoa eased slightly under pressure from a firmer pound.

Arabica coffee was little changed as dealers focused on expectations for an abundant harvest in top grower Brazil.

Sugar futures were little changed on news that Wilmar International Ltd has bought 599,011 tonnes of sugar against the March ICE contract, its fourth straight raw sugar purchase through the Intercontinental Exchange.

"It seems we will probably test higher in the medium term and our best guestimate would be higher for the next 100 point move (1 cent)," said Tom Kujawa, co-head of the softs department at Sucden Financial Sugar.

May raw sugar was down 0.05 cent, or 0.35 percent, at 14.31 cents per lb at 1537 GMT, having touched a five-week high of 14.61 cents a lb on Monday.

May white sugar was up $0.50 or 0.1 percent, at $407.40 per tonne.   Continuación...