London white sugar futures closed down on Thursday after producer selling against a huge EU sugar export tender award and on falling oil prices, traders said. Front-month December settled down $3.90 at $294.80 per tonne in volume of 5,013 lots, near the bottom of the day's $294.00-299.00 range.
March concluded down $5.00 at $303.10 per tonne in volume of 2,004 lots.
"There was some producer selling earlier - hedge selling against the tender," one trader said after the EU sold 226,100 tonnes of white sugar at a maximum rebate of 40.171 euros per 100 kg at Thursday's tender.
The tonnage awarded was larger than expected by the trade, and could have been in part due to a new accounting period for subsidies that began on October 1.
COFFEE FLAT London coffee closed flat and within the range of the past two weeks on Thursday amid an absence of fundamental news or technical triggers, dealers said.
Liffe's most-active November position finished $5 up at $884 a tonne after moving 2,763 lots in an $875-890 range. Turnover totalled 5,324 lots.
"It looks like we're stuck here till funds make a move," a dealer said.
Trader estimates for the net short position held by non-commercial players in London range from 10,000 to 15,000 lots.
COCOA STEADIES London cocoa futures closed steady on Thursday in another sluggish session thanks to a bearish supply outlook and slim speculative interest, traders said.
Liffe's most-active December settled unchanged at 831 pounds a tonne on volume of 1,993 lots in an 825-838 price band. Total volume was 4,587.
At the same time, he said, selling interest was equally low with West Africa only at the start of its new marketing season, which is expected to provide more cocoa than last year after favourable crop weather.
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