March 23 (Reuters) – New York cocoa futures on ICE steadied on Thursday a day after hitting their highest stage in additional than two years whereas white sugar climbed to a contemporary six-month peak.
COCOA
* Could New York cocoa CCc1 was down 0.6% to $2,857 a tonne at 1304 GMT, a day after hitting the best stage for the entrance month since December 2020.
* Sellers stated provides are tightening, with the market heading in direction of a looming deficit this season, and merchants nervous about defaults in high producer Ivory Coast.
* Indicating provide tightness, Could cocoa final traded at a premium of $51 to July CC-1=R.
* Sellers additionally stated speculators have probably re-established lengthy positions after a latest bout of liquidation.
* Could London cocoa LCCc1 fell 1.2% to 2,120, below strain from power in sterling.
SUGAR
* Could white sugar LSUc1 rose 0.1% to $604.40 a tonne after setting a six-month excessive of $608.10.
* Sellers stated the elemental image stays extra bullish than bearish with many unanswered questions on manufacturing from main producers India and Thailand.
* Wanting forward although, dealer Czarnikow stated it expects sugar output in high producer Brazil will 37.6 million tonnes this season, the second highest on document.
* Could uncooked sugar SBc1 rose 0.1% to 21.16 cents per lb.
COFFEE
* Could robusta espresso LRCc2 rose 0.3% to $2,119 a tonne, having hit a a couple of month low on Monday.
* Espresso buying and selling in high robusta producer Vietnam has been sluggish previously weeks, hit by low shares, merchants stated.
* Could arabica espresso KCc1 fell 1.5% to $1.7535 per lb.
(Reporting by Maytaal Angel; enhancing by Jason Neely)
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