XM does not provide services to residents of the United States of America.

Cocoa futures fall below $10,000 but poised for fourth weekly gain

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>SOFTS-Cocoa futures fall below $10,000 but poised for fourth weekly gain</title></head><body>

Updates prices, recasts, adds details

LONDON, June 14 (Reuters) -New York cocoa futures on ICE fell below$10,000 a ton on Friday, but was heading for a fourth week of gains as the market continues to assess a steep supply squeeze.


* September New York cocoa CCc2 was down 3.5% at $9,755 a metric ton at 1425 GMT after hitting a six-week high of $10,308 on Thursday.

* Dealers said cocoa was being underpinned by news thattop producer Ivory Coast has halted forward sales for next season's crop at levels35% below this time last year as it awaits more clarity on expected production.

* The world's largest cocoa producer has also suspended purchases and exports for June - and could extend the suspension -in an effort to retain sufficient stock for local processors, who have run out of beans.

* Ghana, the world's second-largest cocoa producer, is meanwhile looking to delay delivery of up to 350,000 tons of beans to next season because of poor crops and has sold forward just 100,000 tons of beans for 2024/25.

* September London cocoa LCCc2 ​​fell 2.4% to 8,027 pounds a ton after hitting a six-week high of 8,299 pounds in the previous session.


* July raw sugar SBc1 was down 1.5% at 19.30 cents per lb.

* Dealers said the market could be pricing in the end of harvest in top producer Brazil, with productivity below expectations.

* Against that, however, a weakening Brazilian real BRL= is prompting Brazilian exporters to sell dollar-priced sugar by raising returns in local currency terms.

* August white sugar LSUc1 fell 1% to $561.90 a ton.


* September robusta coffee LRCc2 lost 2.8% to $3,978 a ton. The market hit a record high of $4,394 last week.

* September arabica coffee KCc2 was down 1.2% at $2.2360 per lb.

Reporting by Maytaal Angel; Editing by David Goodman and Shailesh Kuber


Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.