coffee, cocoa prices outlook july 23-27 2012

Coffee prices today - coffee, cocoa prices outlook july 23-27 2012 : India's monsoon rains have revived and are expected to remain active at least until the end of this month, weather officials said on Friday, easing risks of a drought for now and helping planting to pick up momentum. Cocoa futures were little changed after Asia's grindings rose and North America's grind fell sharply in its biggest drop in more than three years. ICE September cocoa futures inched down $1 to settle at $2,229 a tonne, while London September cocoa closed up 11 pounds, or 0.7 percent, at 1,543 pounds per tonne.

"The market is demonstrating that the grinds were not much of a surprise," said a European trader. Cocoa grindings in Asia rose 5.7 percent to 150,726 tonnes in the second quarter of 2012 from the same period last year, while North American cocoa grindings in the second quarter of 2012.

The data follows Europe's sharpest quarterly fall in grindings for at least 12 years, dropping 17.8 percent from the same period last year. Arabica futures on ICE were slightly lower, digesting Thursday's gains after closing above key technical levels, with September fell 2.00 cents, or 1.1 percent, to close at $1.8695 per lb. Price differentials for Brazilian beans eased in Europe's cash coffee market on sluggish demand as roasters were reluctant to step in because of high prices, traders said. Robusta coffee futures on Liffe ended down with September falling by $5 to $2,187 a tonne.