October 20, 2017 / 6:15 PM / a month ago

SOFTS-Arabica coffee slips on Brazil rain forecast; NY cocoa falls

 (Updates throughout; adds comment, NEW YORK dateline)
    NEW YORK/LONDON, Oct 20 (Reuters) - Arabica coffee futures
slipped on Friday, pressured by a stronger dollar and
expectations for crop-friendly rains in top grower Brazil, while
New York cocoa fell from a 6-1/2-month high.
   
    COFFEE
    * December arabica coffee        settled down 1.6 cents, or
1.3 percent, at $1.2525 per lb. It closed the week down 0.9
percent.
    * Total open interest rose for the ninth straight session to
231,543 lots on Thursday, ICE data showed.
    * Prices were partially pressured by a firmer U.S. dollar.
      , with the market also monitoring weather in top grower
Brazil, where rains are forecast for the next few days.
    * "We are expecting some more rains this weekend and on
Monday," said Carlos Mera, senior commodities analyst at
Rabobank. "It's still a question mark whether they will be
enough to support the development of the flowers."
    * "Rains in southern coffee areas should provide some relief
in support of coffee flowering, but much more rainfall will
still be needed there and across the rest of the coffee belt,"
said meteorologist MDA Information Systems in a report.
    * January robusta coffee         settled down $8, or 0.4
percent, at $1,965 per tonne. On a weekly basis, it closed down
for the second straight week.
    
    COCOA
    * December New York cocoa        settled down $7, or 0.3
percent, at $2,138 per tonne, after rising to its highest since
March 28 at $2,160. The spot contract closed the week up 2.4
percent, the fourth straight week higher.
    * The move caused the December premium over March CCZ7-H8
to narrow to $6 from $12 on Thursday.
    * December London cocoa         settled down 4 pounds, or
0.3 percent, at 1,592 pounds per tonne.
    * Third-quarter cocoa grinding in Asia rose by 12.9 percent
year-on-year, above expectations, while it rose 0.7 percent in
North America, which was less than expected but reached a
three-year high, industry association data showed.
                        
    * Cocoa markets consolidated lower after Thursday's rally
ahead of the grind data, traders said.

    SUGAR
    * March raw sugar        settled down 0.13 cent, or 0.9
percent, at 14 cents per lb. It closed the week down 2.8
percent.
    * Dealers said the market was vulnerable to selling pressure
from Brazilian producers, who have yet to hedge much of their
production.
    * However, prices remained range-bound and traded volumes
were thin, dealers said. 
    * December white sugar         settled down $3, or 0.8
percent, at $368.80 per tonne.

 (Reporting by Marcy Nicholson in New York and Ana Ionova in
London; editing by David Goodman and Diane Craft)
  

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