Arabica coffee moves upward
arabica coffee futures rebounded modestly on Tuesday after falling to a 17 month low in the prior session, while cocoa markets pared their losses and sugar edged up.
May arabica coffee futures on ICE climbed 1.3 cents, or by 0.7 percent, canada goose factory sale to canada goose clearance settle at $1.8615 a lb. The market consolidated in quiet trading after falling roughly 24 percent in the past two months.
because it fell so much. It just a case of some bargain hunting, Macquarie analyst Kona Haque said of the rise in arabica prices.
The premium of arabica over Liffe canada goose robusta inched higher to around 96 buy canada goose jacket cents per lb, after falling to a 1 1/2 year low just above canada goose coats 93 cents on Monday.
Dealers said the strength reflected profit taking on short positions, with the relative strength index showing the market remained technically oversold following a prolonged canada goose uk black friday slide that saw cheap Canada Goose prices dip to a 17 month low for the second position of $1.8105 on Monday.
The May robusta contract on Liffe fell $14, or 0.7 percent, to end at $1,972 per tonne.
would have thought that the market has probably canada goose uk outlet got itself back into buy canada goose jacket cheap a range where it quite happy to stay at the moment. canada goose black friday sale It likely to just hold in this range canada goose clearance sale for the time being, one London broker said.
Traders canada goose coats on sale said discounts to London coffee futures prices narrowed in Vietnam after global prices slid overnight, putting exporters and domestic speculators on hold.
Cocoa Canada Goose Outlet was weak but well above Canada Goose Online its session lows as origin sellers entered the Canada Goose sale market.
difficult to be bullish cocoa. The weather looks good in Ivory Canada Goose online Coast, said one canadian goose jacket veteran cocoa dealer in canada goose store New York.
Ghana, they trying to make room for what will be unavoidably smuggling from Ivory. The premium in Ghana verses Ivory Coast is uk canada goose outlet very high at the moment at the farmer level.
May cocoa futures on ICE closed down $11 at $2,372 a tonne as the market consolidated further after last week run up.
The opening times for ICE coffee and cocoa futures, and the settlement window for cocoa are delayed through March 23, due to the start cheap canada goose uk of Daylight Savings Time in the United States.
cocoa hedging is coming through and it just Canada Goose Parka weighing down on the market, he added. and German data boosted global stock markets and the dollar, which hit a near 11 month high against the yen and a near one month high against the euro, a factor that can pressure dollar denominated uk canada goose commodities.
May cocoa on Liffe settled 11 pounds lower at 1,537 pounds a tonne.
Prices of cocoa butter hardly moved in Asia but could fall next week because most chocolate makers had already bought supplies ahead of the Easter high demand period, leaving grinders Canada Goose Jackets with unsold stocks, dealers said.
SUGAR EDGES UP Raw sugar futures were slightly firmer after an early downturn ran into trade and consumer buying, and modest investor buying, analysts said.
May raw sugar on ICE rose 0.36 cent, or 1.5 percent, to end canadagoose-online-shop at 24.13 cents a lb. The contract dipped to a one month low at 23.26 cents on Monday.
The market again tested support around 23.50 cents, basis May, but bounced just as quickly in a subdued session, they said.
market is kind of stuck, said Country Hedging Inc analyst Sterling Smith.
Dealers said the market derived some support from talk that some estimates of production in the key centre south region of Brazil may need to be Canada Goose Coats On Sale revised downward.
London May white sugar futures rose $9.60, or 1.5 percent, to settle at $641.30 canada related site goose uk shop per tonne. (Additional reporting by Nigel Hunt in London and Rene Pastor in New York; Editing by James Jukwey and Marguerita Choy).