Arabica coffee futures on ICE fell on Monday, after earlier climbing to their highest levels in 10 days, as technical weakness and a global glut continued to weigh down the market; while New York cocoa and raw sugar prices also fell. London cocoa, robusta coffee and white sugar futures were closed on Monday for the Easter holiday.
Both London and New York coffee, sugar and cocoa markets were closed on Friday.
July arabica coffee settled down 0.05 cent, or 0.05 percent, at 92.85 cents per lb, after earlier rising to 95.25 cents, the highest since April 11 on some short-covering, dealers said.
The contract failed to move above the 62 percent retracement of the April 4 high and the April 17 low of about 95.43 cents, a technical failure which then prompted prices to decline, one US trader said.
The contract plunged last week to a 13-1/2-year low of 89 cents as a global coffee glut continued to weigh down prices.
In the week to April 16, speculators hiked their net short position in arabica coffee by 7,916 contracts to 79,067 contracts, the largest since October, US government data showed on Friday.
China's Luckin Coffee Inc on Monday filed for an initial public offering with the US Securities and Exchange Commission.
July New York cocoa settled down $30, or 1.3 percent, at $2,342 per tonne.
The contract has declined in four of the past five sessions, as a short-covering rally that had lifted prices to a three-month high on April 11 appeared to run out of steam, dealers said.
While global cocoa demand has been robust, supplies have also been plentiful, with arrivals to ports in top grower Ivory Coast running about 14 percent above last year's arrivals.
Last week, data on global cocoa grindings came in above market expectations, signaling robust demand.
In top-grower Ivory Coast, grindings were up 5.5 percent between Oct. 1 and March 31 compared to the same period a year earlier, exporter data showed on Friday.
North American cocoa grindings in the first quarter of this year were nearly 2 percent higher than they were in the first quarter of 2018, industry data showed on Thursday.
May raw sugar settled down 0.22 cents, or 1.7 percent, at 12.54 cents per lb, after peaking at 12.80 cents, a more than one-week high.
Still, prices stayed within their recent range. The contract has traded between 12 and 13 cents for most of 2019.
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