SOFTS-Raw sugar falls as market consolidates after one-month peak

April 16, 2021

LONDON, April 16 (Reuters) - Raw sugar futures on ICE fell on Friday after hitting a one-month high in the previous session, though sentiment towards risk assets such as the sweetener remained broadly positive after upbeat economic data from China and the United States. MKTS/GLOBO/R


* May raw sugar SBc1 fell 0.4% to 16.31 cents per lb​ by 1113 GMT.

* Raw sugar is heading for gains of more than 5% this week on the back of a more positive macroeconomic backdrop and worries that sugar production in Brazil will struggle to reach the previously predicted 36 million tonnes.

* Dealers warned, however, that the rally is largely sentiment-driven because the Brazil harvest fears have been around for some time and the market has plenty of supply coming out of India.

* August white sugar LSUc1 ​fell 0.4% to $454.80 a tonne.


* May arabica coffee KCc1 rose 0.1% to $1.3285 per lb, having earlier hit its highest in a month.

* Indicating improved demand, green coffee stocks at ports in the United States fell for a third consecutive month to the lowest in more than five years, the Green Coffee Association said. .

* Arabica is being underpinned by a looming deficit as Brazil enters an off-year in its biennial production cycle, though analysts say much of the deficit is priced in and rising ICE exchange stocks are capping gains.

* May robusta coffee LRCc1 rose 0.3% to $1,367 a tonne.


* May New York cocoa CCc1 rose 0.5% to $2,425 a tonne, helped by upbeat demand data.

* North American cocoa grindings, a measure of demand, rose a greater than expected 2.05% year on year in the first quarter of 2021, according to the National Confectioners Association.

* Asia's first-quarter cocoa grind rose 3.14% year on year, data from the Cocoa Association of Asia showed.

* May London cocoa LCCc1 ​​edged up 0.1% to 1,608 pounds a tonne, recovering from a five-month low on Monday.

* Earlier this week data showed Europe's first-quarter cocoa grind fell 3% from a year earlier.