London sugar easier

London white sugar futures closed easier on arbitrage selling after a quiet session on Tuesday, with the Eidul Fitr holiday likely weighing on volumes. December settled down $3.7 to $397.6 per tonne in volume of 1,429 lots after trading from $397.0 to $404.8.
March finished down $2.4 to $361.7 in volume of 1,691 lots, having moved from $360.8 to $368.9.
"Futures have been trading at the bottom end of the range on premium (arbitrage) selling," one trader said, referring to a premium of $104 between the London and New York March contracts.
Traders said the Eidul-Fitr holiday might be weighing on volumes.
Ukraine's sugar refineries have produced 1.046 million tonnes of white sugar from 8.98 million tonnes of the 2006 sugar beet crop, Ukraine's sugar union Ukrtsukor said on Tuesday.
COCOA EASES:
London cocoa futures closed easier on trade selling after a quiet session on Tuesday, and traders said attention would focus on political developments in top grower Ivory Coast and US interest rates.
December settled down 11 pounds at 825 pounds a tonne in volume of 2,829 lots after trading from 823 to 838 pounds.
March finished down 11 pounds at 843 pounds in volume of 2,502 lots, having moved from 841 to 856. "Trade are a steady seller at the higher levels."
Dealers saw no market impact from news of slowing bean arrivals at Ivorian ports after a three-day strike last week.
Cocoa arrivals at ports in Ivory Coast from October 1-22 reached around 42,000 tonnes, exporters said, compared with 113,664 by the same time one year ago. An estimated 7,000 tonnes of beans were delivered between October 16 and 22, exporters estimated, which was much lower than usual at the outset of the October-March main crop because of a three-day farmers' strike last week that halted deliveries of beans.
The trade was also turning its attention to a decision on US rates on Wednesday, and political developments in Ivory Coast.
A UN draft resolution, circulated on Monday, would give the prime minister of Ivory Coast full military and civilian authority to run the country for another year pending new elections. Rains eased in the past week in Ivory Coast's main cocoa regions and farmers welcomed lengthy sunny spells that were useful for drying beans as the harvesting of the October-March main crop intensifies.
COFFEE LOWER: London robusta coffee futures closed slightly lower on Tuesday as speculators sold contracts to bank profits after a recent rally, traders said.
The November contract settled down $17 from Monday's close at $1,521 per tonne in volume of 5,361 lots after trading between $1,515 and $1,559.
January settled down $13 at $1,521 in volume of 9,253 lots after trading in a $1,515-1,558 range. "New York moved off a little bit, it went down towards $1.06 (per lb) and some people got nervous and sold," a dealer said. "When there are so many speculators in the market that can happen, but then if New York closes above $1.07, there could be buying again."