1 de marzo de 2016 / 15:55 / hace 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 (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.

Arabica coffee was underpinned by a firmer Brazilian real currency.

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

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

May arabicas were down 1.35 cents, or 1.2 percent, at $1.1370 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 $33, or 2.3 percent, at $1,380 per tonne.

Cocoa futures edged lower on a firmer pound although remained underpinned by concerns over dry weather in top grower Ivory Coast.

March London cocoa was down 29 pounds, or 1.3 percent, at 2,186 pounds per tonne.

May New York cocoa was down $29, or 1 percent, at $2,926 per tonne. (Editing by Susan Thomas and David Evans)

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