coffee, cocoa futures prices closed april 5 2012 : Arabica coffee futures on ICE closed lower Thursday in the face of a firmer dollar while the market consolidated after the previous session's volatile moves.
U.S. cocoa futures settled up a shade in heavy volume, consolidating after hitting a three-month low on Wednesday, while raw sugar also meandered upward.
ARABICA COFFEE
* May arabicas fell 1.75 cent to end at $1.83 per lb, an inside day after Wednesday's volatile session.
* On the week, May closed down 0.3 percent. * Market was pressured by the firm U.S. dollar and commercial hedging - traders.
* "So many commodity funds are either long or they're out. It appears to be commercial business going on. I would say that's probably pricing in the Brazilian production." - James Cordier, senior analyst of brokerage Optionsellers.com in Florida.
* Total open interest climbed by 2,691 contracts to 160,503 contracts, the highest since August 2010 - ICE/Thomson Reuters data.
* Brazil cracked down on multinational commodities firms Wednesday with rules to block them from shifting tax liabilities to more favorable countries.
COCOA FUTURES
* May cocoa rose $2 to settle at $2,085 a tonne.
* On the week, May closed down 6 percent.
* Total volume was heavy at more than 41,200 lots, roughly double its 30-day average - preliminary Thomson Reuters data.
* May/July spreading continued to boost volume ahead of first notice day for May on April 17 - traders.
* Market climbed quietly along with the Thomson Reuters CRB index, consolidating after closing at a three-month low on Wednesday - traders.
* Open interest jumped by 4,699 lots to 181,349 lots on April 4, the highest since Nov. 8, 2011 - exchange data.
* Higher-than-usual cocoa deliveries to warehouses in Brazil over the past few weeks from local farms and imports are pushing arrivals close to last year's levels as the season draws to a close in April.
U.S. cocoa futures settled up a shade in heavy volume, consolidating after hitting a three-month low on Wednesday, while raw sugar also meandered upward.
2:05 PM SETTLE NET PCT LOW HIGH CURRENTCocoa MAY 2085 2 0.1% 2,068 2,132 19,992
CHNG CHNG VOL
Cocoa JUL 2108 -1 -0.1% 2,094 2,150 14,933
Coffee MAY 183 -1.75 -1.0% 180.95 185.00 14,350
Coffee JUL 185.5 -1.85 -1.0% 183.45 187.60 9,042
TOTAL MARKET VOLUME
CURRENT 30D AVG 250D AVGICE COCOA 41,234 21,523 19,419
ICE COFFEE 29,868 22,404 20,23
ARABICA COFFEE
* May arabicas fell 1.75 cent to end at $1.83 per lb, an inside day after Wednesday's volatile session.
* On the week, May closed down 0.3 percent. * Market was pressured by the firm U.S. dollar and commercial hedging - traders.
* "So many commodity funds are either long or they're out. It appears to be commercial business going on. I would say that's probably pricing in the Brazilian production." - James Cordier, senior analyst of brokerage Optionsellers.com in Florida.
* Total open interest climbed by 2,691 contracts to 160,503 contracts, the highest since August 2010 - ICE/Thomson Reuters data.
* Brazil cracked down on multinational commodities firms Wednesday with rules to block them from shifting tax liabilities to more favorable countries.
COCOA FUTURES
* May cocoa rose $2 to settle at $2,085 a tonne.
* On the week, May closed down 6 percent.
* Total volume was heavy at more than 41,200 lots, roughly double its 30-day average - preliminary Thomson Reuters data.
* May/July spreading continued to boost volume ahead of first notice day for May on April 17 - traders.
* Market climbed quietly along with the Thomson Reuters CRB index, consolidating after closing at a three-month low on Wednesday - traders.
* Open interest jumped by 4,699 lots to 181,349 lots on April 4, the highest since Nov. 8, 2011 - exchange data.
* Higher-than-usual cocoa deliveries to warehouses in Brazil over the past few weeks from local farms and imports are pushing arrivals close to last year's levels as the season draws to a close in April.
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