Recasts, includes comments and closing prices
NEW YORK / LONDON, August 3 (Reuters) – Arabica coffee futures on ICE closed for the first time in six sessions on Tuesday, but remained far from last week’s nearly seven-year high of above $ 2 a pound as investors continued to rate damage caused by frost in the main Brazilian producer.
* Arabica coffee in September KCc1settled 2.05 cents, or 1.2%, at $ 1.7485 per pound, Rbe for the first time in the last six sessions.
* Dealers said the market is still looking for a balance after the great volatility with the frosts in Brazil hitting a estimated at 11% of Arabica cultivation areas.
* Broker Marex said so expected 6.7-8.8 million bags of damage from the frost and dry weather that preceded it, leaving arabica production down to 42.6-44.8 million bags next season, from a previous estimate of 51.5 million.
* Honduran coffee exports jumped 123% in July from the previous year, leaving total October-July exports up 2% year-on-year.
* September robusta coffee LRCc1 Pink $ 19, or 1.1%, at $ 1,772 per tonne.
* October raw sugar SBc1 settled up 0.03 cents, or 0.2%, to 17.98 cents per pound, off last week’s five-month high of 18.81 cents.
* The dealers said that the prices of sugar were it is unlikely to drop much from current levels given lingering concerns over the cane harvest in Brazil, the top producer, which has been hit by dry weather this season and has also been affected by frost.
* Analysts lowered projections for south-central Brazil sugar production on Tuesday, with trader Wilmar expecting just 28 million tonnes.
* Brazil’s sugar exports fell to 2.47 million tonnes in July of 3.29 million tonnes a year ago, according to data. Dealers said the drop was likely payable low demand, as Brazilian production is still only about 7% lower than a year ago.
* October white sugar LSUc1 slightly $ 2.30, or 0.5%, at $ 449.60 per tonne.
* December New York cocoa CCc2 set at $ 53, or 2.2%, at $ 2,474 per tonne.
* December London cocoa LCCc2 Pink 25 pounds, or 1.5%, at 1,696 pounds per ton.
* CÃ´te d’Ivoire forwarded 1.4 million tonnes of cocoa for the 2021/2022 season with a country differential or discount of 150 pounds ($ 208.38) per tonne compared to forward prices.
* Sources say the world’s largest cocoa producer has also halted forward sales of next season’s harvest over concerns over low production.
(Reporting by Marcelo Teixeira and Maytaal Angel; Editing by Emelia Sithole-Matarise, David Goodman and Richard Chang)
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