AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,941 Increased By 63.6 (0.92%)
BR30 22,802 Increased By 233 (1.03%)
KSE100 67,176 Increased By 628.6 (0.94%)
KSE30 22,090 Increased By 175.1 (0.8%)

LONDON: White sugar futures rose on Monday, boosted by tighter deliverable supplies despite a broader global glut, while cocoa slipped and arabica coffee steadied after sharply rebounding off 4-1/2 year lows last week.

SUGAR

* October white sugar was up $2.10, or 0.6 percent, at $333.40 a tonne by 1332 GMT.

* The August contract remained at a sizeable premium above $9 over the October position ahead of expiry next week.

* Spot prices have been supported by expectations of tight supplies of sugar that could meet necessary criteria to be tendered against the contract, despite a global glut.

* "(The) difficulty of finding deliverable breakbulk origins on London gives a kind of positive bias to London futures," Marex Spectron said in a report.

* October raw sugar rose 0.07 cent, or 0.6 percent, to 11.58 cents per lb, partly supported by light chart-inspired buying.

* Focus was on upcoming cane crush data from Brazil's Centre-South region, due out this week, with expectations for reduced sugar supplies.

* "In the Centre-South, the 2018/19 campaign continues to strongly focus on ethanol production," the International Sugar Organization said in a monthly report.

* The market was also awaiting a delayed Commitment of Traders report for fresh indications on whether funds have resumed short-selling.

COCOA

* September London cocoa fell 14 pounds, or 0.8 percent, to 1,775 pounds a tonne, partly pressured by a stronger British pound.

* Dealers also said sentiment was subdued amid a lack of fundamental news, with thin speculative trading dominating activity.

* "People are waiting for clarity - they're waiting to see how the new crop starts," one European dealer said. "In the meantime, you get technical signals which are fanning the fire."

* The July contract's premium over September <LCCN8-U8> retreated slightly from last week's levels but remained around 87 pounds.

* September New York cocoa slipped $19, or 0.8 percent, to $2,446 a tonne in tandem with London.

* Cocoa arrivals at ports in top grower Ivory Coast reached 1.787 million tonnes between Oct. 1 and July 8, exporters estimated on Monday.

* Ghana's 2017/18 cocoa output could top 900,000 tonnes due to favourable weather and improved farming techniques, farmers said on Friday.

COFFEE

* September arabica coffee was unchanged at $1.1410 per lb.

* Prices were consolidating after sharply rebounding on Friday from 4-1/2 year lows.

* September robusta coffee rose $9, or 0.5 percent, to $1,671 a tonne, also steadying after a sharp rebound in the prior session.

Copyright Reuters, 2018

Comments

Comments are closed.