Raw sugar prices on ICE fell on Monday as data showed record fund net short positions and excess supplies continued to weigh on sentiment.
October raw sugar fell 0.08 cents, or 0.7%, to 10.94 cents per lb at 1341 GMT, having hit 10.86 cents on Thursday, its weakest since late September 2018. The contract fell 1% last week.
October white sugar, which expires at the end of the week, was down $0.8, or 0.3%, at $303.30 per tonne, having hit its weakest since mid-July at $300.20 last Thursday.
Speculators on ICE Futures US increased their net short position in raw sugar to a record in the week ended Sept. 3. This was the fourth straight week they had done so.
"We're in lockdown mode, there's not enough bullish news to offset the selling from funds. In the background there's always the fear of India (exporting)," said a dealer.
He added, however: "The outlook starts to change as we move into 2019/20. From October onwards the balance sheet starts to tighten."
Large deliveries are expected both against the whites and the raws contract, which expires at the end of this month. The sugar market is widely expected to move into deficit next season, however.
December arabica fell 0.95 cents, or 0.9%, to 96.15 cents per lb, still some way off a five-month low of 93.40 cents set on Aug. 20. The contract ended last week little changed.
Speculators on ICE Futures US increased their net short position in arabica by 5,861 lots to 52,009 lots in the week ended Sept. 3.
Still, arabica has been range-bound since the August lows, with a recent recovery in Brazil's real currency discouraging Brazilian exporters from selling dollar-priced coffee.
November robusta coffee fell $6, or 0.5%, to $1,289 per tonne, after hitting a nine-year low of $1,262 on Thursday. The contract ended last week down 2.9%. December New York cocoa fell $17, or 0.8%, to $2,294 per tonne. The contract gained 2.5% last week.
Speculators on ICE Futures US increased their net short position in cocoa by 3,621 lots to 36,590 lots in the week ended Sept. 3.
Cocoa arrivals at ports in top grower Ivory Coast reached 2.154 million tonnes for the period from Oct. 1 last year to Sept. 8 this year, exporters estimated, up from 1.931 million tonnes in the same period last season. The cocoa market has regained some ground of late, with rains in top producer Ivory Coast prompting some concerns about quality.
A large Ivory Coast crop is still expected, however.
December London cocoa was flat at 1,757 pounds. The contract gained 2.8% last week.
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