Raw sugar hits five-month peak, coffee slips further
Adds comments, closing prices
NEW YORK, Sept 19 (Reuters) -Raw sugar futures rose to a five-month high on Thursday, boosted by a deteriorating outlook for sugar production and the new cane crop in Brazil's center-south region, while coffee prices slipped further from recent multi-year highs.
SUGAR
* October raw sugar SBc1 settled up 0.77 cent, or 3.6%, at 21.93 cents per lb after setting a five-month high of 22.08 cents.
* Dealers said the market had been buoyed by a diminishing outlook for sugar production this year and forthe next cane crop (2025/26) in Brazil's center-south region following a prolonged dry spell.
* Yields for Brazil's 2024/25 sugarcane crop in the country's center-south region are down 7.4% through the end of August compared with last season, data from cane research firmCTC showed, amid dry weather and fires in the world's largest producer.
* Dealers noted strong short-covering action, mostly by funds, but also by some producers.
* December white sugar LSUc1 rose 2.4% to $568.60 a metric ton.
COFFEE
* December arabica coffee KCc1 settled down 2.75 cents, or 1.0%, at $2.6165 per lb, extending the market's retreat from a 13-year high on Monday.
* Dealers said the market was underpinned by a smaller-than-expected crop in Brazil this year and concerns that dry weather will curb production next year.
* Coffee production in Brazil stood below initial forecasts in 2024 as adverse weather conditions affected key crop development stages, national food supply agency Conab said on Thursday.
* November robusta coffee LRCc2 fell 1.6% to $5,248 a ton.
COCOA
* December New York cocoa CCc1 settled down $64, or 0.8%, to $7,750 a ton.
* Dealers said the market had stabilised at prices well below peaks set in April as generally favorable weather improved the outlook for the 2024/2025crops in West Africa.
* Increased investment in cocoa farms linked to high prices this year will, however, take time to impact supplies.
* "As a perennial tree, it can take three to four years for new cocoa trees to begin producing beans. Moreover, issues including diseases especially CSSVD (cocoa swollen shoot virus) and climate change persist and compound the problems faced by cocoa farmers," the International Cocoa Organization said.
* March London cocoa LCCc2 fell 1% to 4,605 pounds a ton.
Reporting by Nigel Hunt and Marcelo Teixeira; Editing by Janane Venkatraman, Emelia Sithole-Matarise and Paul Simao
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
