1 de marzo de 2016 / 13:49 / en 2 años

SOFTS-Raw sugar steadies, cocoa dips on firmer pound

* Wilmar scoops up raw sugar delivery - traders

* Concerns over dry weather impact on Ivorian mid-crop

By David Brough

LONDON, March 1 (Reuters) - Raw sugar futures on ICE steadied on Tuesday as the market digested reports of a 600,000-tonne delivery against expiry of the March contract, while London cocoa eased slightly pressured by a firmer pound.

Arabica coffee futures were little changed, with dealers focused on expectations for an abundant harvest in top grower Brazil.

Sugar futures held steady, with traders taking stock of reports that Wilmar International Ltd had bought about 600,000 tonnes of raw sugar against March ICE futures that expired on Monday.

“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 0.11 cent, or 0.8 percent, at 14.25 cents per lb at 1315 GMT, having touched a five-week high of 14.61 cents a lb on Monday.

May white sugar was down $1.10 or 0.27 percent, at $405.80 per tonne.

Arabica coffee was supported by a firmer Brazilian real currency.

A stronger real reduces local currency returns from sales of dollar-denominated sugar.

Dealers focused on development of the next arabica crop in Brazil, with the harvest due to start around May.

May arabicas were up 0.15 cent, or 0.13 percent, at $1.1520 per lb.

“If bullish sentiment pulls through, the 10-day moving average at $1.1686 a lb looks set to be a target for traders,” Sucden Financial Research said in a note.

“However, the 40-day moving average at $1.1869 seems harder to breach at this moment but could be an upside target in sessions to come.”

May robusta coffee was down $18, or 1.3 percent, at $1,395 per tonne.

Cocoa futures edged lower in technically driven dealings, and were underpinned by concerns over dry weather in top grower Ivory Coast.

March London cocoa was down 24 pounds, or 1.1 percent, at 2,191 pounds per tonne.

May New York cocoa was down $24, or 0.8 percent, at $2,931 per tonne. (Editing by Susan Thomas)

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