LONDON, October 13 (Reuters) – Arabica coffee futures on ICE hit a two-month low on Thursday as supply prospects improve amid favorable weather in Brazil’s top producer, while London cocoa also fell.
COFFEE
* December arabica coffee KCc1 fell 1.3% to $2.0695 a pound, after hitting its lowest level since early August at $2.0660.
* Rabobank said the weather in Brazil has been excellent for the flowering of the coffee crop to be harvested next year.
* Dealers said semi-washed coffee in Brazil is almost cheap enough to ship to ICE exchange warehouses for delivery against futures.
* ICE Exchange Shares KC-TOT-TOT are currently near 23-year lows, supporting futures prices as most other supply indicators turn bearish.
* Brazilian Arabica Coffee Exports increased by 18% to 2.93 million bags in September compared to a year ago, the industrial group Cecafe announced on Tuesday.
* January robusta coffee LRCc2 fell 1% to $2,121 a tonne.
* The Central Highlands of Vietnam is expected to face heavy rains this week that could disrupt the coffee harvest, while supplies tightened in Indonesia at the end of the harvest, traders said.
COCOA
* Cocoa March in London LCCc2 fell 0.8% to 1,889 pounds per tonne, after hitting a more than two-year high of 1,954 pounds on Monday.
* The third quarter cocoa grind in Europea measure of demand, fell 1.6% from a year earlier to 369,679 tonnes, the Brussels-based European Cocoa Association said.
* December New York Cocoa CCc1 rose 0.3% to $2,323 per tonne.
SUGAR
* March raw sugar SBc1 edged up 0.2% to 18.70 cents a pound, after hitting a nearly three-month high of 18.94 on Wednesday.
* Suedzucker, Europe’s largest sugar producerSZUG.DE posted a nearly 80% rise in quarterly profits and again forecast a full-year profit increase, supported by strong performance in its sugar and biofuels businesses.
* The United States Department of Agriculture (USDA) raised its outlook for sugar supply in the United States for the 2022/23 season, estimating an increase in imports and slightly higher local production.
* USDA also sees sugar production in Thailanda major exporter of the sweetener, growing 3% as exports are expected to increase to 11 million tons.
* December white sugar LSUc1 fell 0.2% to $553.70 a tonne.
(Reporting by Maytaal Angel; Editing by Shailesh Kuber)
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