SOFTS-Cocoa hits month high on supply concerns, robusta coffee steadies
NEW YORK, Dec 9 (Reuters) - Cocoa futures on the ICE exchange hit a one-month high on Tuesday as concerns over prospects for the tail end of the main crop in top grower Ivory Coast escalated, while robusta coffee steadied above 2-1/2-month lows.
COCOA
London cocoa LCCc2 settled up 133 pounds, or 3.2%, to 4,253 pounds per metric ton, having hit a one-month high of 4,300.
About 85,000 tons of cocoa were delivered between December 1 and 7 to ports in Ivory Coast, equal to the same week of the previous season, exporters estimated.
Dealers pointed out, however, that the figure breaks a four-week streak of 100,000 or more tons and could be the first sign that, as feared, the tail end of the main crop will disappoint.
New York cocoa CCc2 rose 3.2% to $5,882 a ton, having hit a one-month high of $5,967.
COFFEE
Robusta coffee LRCc2 settled up $17, or 0.4%, at $4,109 a ton, after setting a 2-1/2-month low of $4,085 on Monday.
"The Central Highlands is finally enjoying a dry spell after the recent typhoons, allowing harvest activities to accelerate," said a Vietnam-based dealer.
He noted that local prices have softened and that Vietnam's coffee exports rose 38% year-on-year in November despite the severe weather disruptions.
Arabica coffee KCc2 rose 0.7% to $3.6875 per lb, after hitting a two-week low on Monday.
Brazil green coffee exports fell 27% in November from a year ago, said industry group Cecafe, blaming a limited crop, port congestion and the lagging impact from U.S. tariffs.
SUGAR
Raw sugar SBc1 settled down 0.15 cent, or 1%, at 14.67 cents per lb, a nearly four-week low.
Cane farmers in Thailand, the world's second-largest sugar exporter after Brazil, are switching to cassava as prices plunge and fields in some parts of the country face a disease outbreak, analyst Green Pool said.
Dealers said that overall, sugar is stuck in a holding pattern heading into the year-end, with rainfall in top grower Brazil expected to keep any potential price gains in check.
White sugar LSUc1 dipped 0.9% to $418.80 a ton.
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