ICE raw sugar pulls back from a brief rally led by Brazilian data

Cocoa futures in New York and London rose, hovering at their highest levels in about three years, as commodities trader Olam International Ltd said global cocoa supplies were expected to be in short supply for the third consecutive year in 2014 / 15.

ICE- July raw sugar futures closed down 0. 01 cents at 16. 97 cents a pound. London International Financial Futures and options Exchange (LIFFE)-August sugar contract closed up $0.60, or 0.1%, at $460.50 a tonne.

Figures from Unica show that south-central Brazil produced 2.03 million tons of sugar in late May, up from 1.91 million tons in the first ten days of May. The sugarcane processing plant there crushed 37.98 million tonnes of sugar cane at the end of May and 35.5 million tonnes at the beginning of May, traders said the figure was slightly lower than expected.

"I think the most important part of the Unica data is the harvest side," said Bruno Lima, INTL FCStone's sugar and ethanol manager. "so far, the cumulative figure is almost 9 per cent lower than last year. Some processors have had to slow down the crushing speed so that they do not squeeze sugar cane in areas where they have been planted for less than 12 months."

ICE- September Arabica coffee futures closed up 35 cents, or 0.2%, at $1.6830 a pound. London International Financial Futures and options Exchange (LIFFE)-September Robusta coffee futures closed down $5, or 0.3%, at $1894 a tonne.

ICE- 's September cocoa contract closed up $5, or 0.2 per cent, at $3085 a tonne, slightly below the about three-year high of $3103 hit on June 5th.

London International Financial Futures and options Exchange (LIFFE)-September cocoa futures rose 4 pounds, or 0.2%, to 1948 pounds per tonne.