1 de mayo de 2015 / 11:45 / hace 3 años

SOFTS-Raw sugar steady after record delivery, arabicas flat

* Wilmar seen as sole buyer of record ICE raw sugar delivery

* Wilmar bought record 1.9 million tonnes - traders

* Arabica coffee, cocoa little changed

By David Brough

LONDON, May 1 (Reuters) - Raw sugar futures steadied on Friday as traders digested news of a record delivery tonnage against expiry of the May futures contract, while arabica coffee and cocoa were little changed.

U.S. traders said Wilmar International Ltd had bought a record 1.9 million tonnes of Brazilian and Central American raw sugar, in an apparent bet on Asian demand and the first world supply deficit in years.

ICE will publish the expiry results later on Friday.

“If there was one receiver that would probably be constructive to the market, it would be Wilmar,” said Michael Liddiard, consultant with Agrilion, adding that the company had access to substantial refining capacity around the world, notably in Asia.

“It’s the strongest receiver that we’ve had for a long time,” Liddiard said. “It will come as a relief to deliverers who don’t have homes.”

July raw sugar traded down 0.02 cent, or 0.15 percent, at 13.16 cents a lb at 1106 GMT.

August white sugar was up $0.50, or 0.1 percent, at $377.20 a tonne.

Arabica coffee futures eased on technical sell signals, with dealers focused on the outlook for Brazilian crops in 2015/16.

July arabica were down 0.3 cents, or 0.2 percent, at $1.3715 per lb.

July robusta coffee futures on ICE were down $3, or 0.2 percent, at $1,789 a tonne.

London cocoa futures rose to a seven-week high, boosted by the weakness of sterling and ongoing concerns about a smaller-than-expected crop in Ghana this year.

July London cocoa rose 3 pounds or 0.2 percent at 2,008 pounds a tonne after hitting a seven-week high for the contract of 2,020 pounds.

Dealers said the market appeared overbought after its recent strong advance and could run into some profit-taking ahead of the long holiday weekend.

“You might see it a bit weaker today if currencies turn around a bit,” one dealer said, adding that a weak pound was underpinning London prices.

July New York cocoa was down $7 or 0.2 percent to $2,936 per tonne. (Additional reporting by Nigel Hunt; Editing by Gareth Jones)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below