RTRS:NY sugar, coffee and cocoa fall as dollar rises
March 14 (Reuters) - Raw sugar, arabica coffee and
cocoa futures dropped Wednesday as a firmer dollar pressured the
entire softs complex in initial dealings.
For news on other financial markets, please click on:
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7:31 AM LAST NET PCT LOW HIGH CURRENT
TRADE CHNG CHNG VOL
Sugar MAY 24.01 -0.12 -0.5% 23.85 24.10 4,231
Sugar JUL 23.07 -0.14 -0.6% 22.95 23.15 3,172
* Raw sugar futures for May fell 0.12 cent to 24.01
cents a lb in volume of 4,231 lots, trading in a range of
23.85 to 24.10. July fell 0.14 cent to 23.07 cents a
lb.
* Cocoa futures for March were unchanged at $0 a
tonne in volume of lots, trading in a range of $0 to $0.
May fell $23 to $2,349 a tonne.
* Arabica coffee futures for March were unchanged at
$0.0000 a lb in volume of lots, trading in a range of
$0.0000 to $0.0000. May fell 1.25 cents to $1.8490 a
lb.
MARKET NEWS
* For more details in the daily softs market report, please
click on:
FUNDAMENTALS
* The European Commission will meet demands for increased
raw sugar supplies by proposing additional imports of raw sugar
and sales of EU out-of-quota sugar at reduced duties.
* Ghana's cocoa production this season will rival last
year's record 1 million tonne crop due to improved weather and
farming tecniques.
* Commodities broker Marex Spectron said the 2012/13 coffee
output will exceed demand by only 1.0 ot 2.0 million 60-kg bags,
which it believes is a below trend surplus for an on-year cycle
in the crop of top producer Brazil.
ECONOMY
* U.S. import-export prices for February. 8:30 a.m. EDT
(1230 GMT)
* U.S. Fourth Quarter current account deficit. 8:30 a.m. EDT
MARKETS
* World shares rose on a sunny economic outlook for the U.S.
whose banks passed stress tests.
* Crude oil dipped on expectations for an increase in U.S.
crude stockpiles.
* Gold retreated in the face of an advancing dollar.
