NY coffee and sugar sink

Arabica coffee futures tumbled to close at a 1-1/2-year low on Monday, on follow-through weakness, while raw sugar finished at a four-month low on May/July spread dealing.

U.S. cocoa futures defied the weak trend in the commodity complex and closed higher as the market’s inversion widened ahead of the May contract’s first notice day Tuesday.

2:00 PM SETTLE NET PCT LOW HIGH CURRENT

CHNG CHNG VOL

Sugar MAY 22.9 -0.47 -2.0% 22.85 23.43 45,858

Sugar JUL 22.31 -0.5 -2.2% 22.26 22.85 55,579

Cocoa MAY 2300 52 2.3% 2,222 2,307 3,078

Cocoa JUL 2226 26 1.2% 2,162 2,242 11,479

Coffee MAY 174.7 -4.5 -2.5% 172.65 180.00 13,407

Coffee JUL 175.85 -4.35 -2.4% 173.90 181.35 23,118

TOTAL MARKET VOLUME

CURRENT 30D AVG 250D AVG

ICE SUGAR 141,085 110,111 90,669

ICE COCOA 19,496 26,853 19,788

ICE COFFEE 47,826 27,894 20,430

RAW SUGAR

* May raw sugar futures on ICE sank 0.47 cent, or 2 percent, to end at 22.90 cents a lb, the lowest settlement since Dec. 15 for the spot contract.

* Market tumbles on switch trade, investor sales – brokers.

* Newedge analyst Mike McDougall said large delivery in white sugar market underscores bumper supplies in sugar.

* India was the top deliverer against the expired May white sugar contract in London for first time since 2008.

* Imminent start of Brazil center-south cane harvest keeping market on defensive.

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