NEW YORK/LONDON: New York cocoa futures on ICE dipped after they rose to a six-month high on Thursday, capped by producer selling.
Arabica coffee futures were lower as advantageous rains in top-grower Brazil yielded better-than-expected crops after a dry period.
COCOA
December New York cocoa settled down $7, or 0.3 percent, at $2,090 per tonne, after climbing to $2,121, the highest for the front month since April 5.
Producer selling capped the increase in prices, a US trader said.
Dealers said fund short-covering had helped fuel the recent rise in prices with the technical outlook appearing constructive after the recent strong advance.
Improved demand had also helped to boost prices earlier in the session.
Dealers are now awaiting third-quarter cocoa grind figures from North America, due next week.
Europe's third-quarter cocoa grind rose 3 percent from the same period last year to a six-year high of 353,544 tonnes, the Brussels-based European Cocoa Association said.
December London cocoa settled down 3 pounds, or 0.2 percent, at 1,580 pounds per tonne, after reaching a two-month high of 1,602.
COFFEE
December arabica coffee settled down 0.45 cent, or 0.4 percent, at $1.2635 per lb.
Advantageous rains in top grower Brazil after a dry period pressured prices, said Robert Bresnahan, president of Trilateral in River Forest, Illinois.
"It's been dry and the fact that they have gotten some rain has alleviated some of the fear," he said.
However, below-normal rainfall is expected across most of the coffee belt, though wetter conditions are expected in Parana, according to MDA Information Systems in Gaithersburg, Maryland.
November robusta coffee settled up $22, or 1.1 percent, at $1,997 per tonne.
The market was underpinned by short-term supply tightness ahead of the Vietnamese harvest, which should get underway next month, dealers said.
SUGAR
March raw sugar settled down 0.02 cent, or 0.1 percent, at 14.28 cents per lb.
Producer selling helped cap the run-up in prices following three consecutive higher closes this week and the market remained range-bound, dealers said.
"We know of course it will not continue this sideways range-bound session indefinitely but looking for the reason to instigate a break up or down continues to be unobvious," said Tom Kujawa, co-head of the softs department at Sucden Financial.
December white sugar settled down $0.9, or 0.2 percent, at $375.60 per tonne.
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