London white sugar futures closed lower on Friday on speculative and fund profit-taking from one-month highs touched this week, and traders noted a lack of physical business.
Benchmark August settled down $6.20 at 464 per tonne in volume of 2,202 lots, having moved from $471 to $461.20.
October finished down $4.9 at $460 per tonne in volume of 1,660 lots, after trading from $465.20 to $457.50.
"The market sold off quite heavily from yesterday. I think there was some profit-taking," one trader said.
Some traders noted a lack of cash business at present price levels, but others referred to talk of Mexican enquiries. There was no immediate confirmation.
Italian sugar beet plants are suffering from a prolonged dry spell this month, but so far there has been no serious damage, a senior grower said on Friday.
Cocoa up
London cocoa ended up on a 10-week high on speculative buying on Friday, while the July/September premium widened further, dealers said.
The benchmark September contract settled up 4 pounds, or 0.4 percent, at 918 pounds a tonne after trading between 925 and 914 pounds. Total volume was 10,703 lots.
"There is spec buying from funds. Some specs in London are going long on the September contract," one dealer said.
The contract hit 932 pounds on April 10.
The July/September premium rose to as much as 58 pounds during the session before retreating to 49 pounds by the end. The premium hit 55 pounds in the previous two sessions.
Spot July settled down 2 pounds at 967 pounds. Dealers said there had been some short covering on the contract earlier in the session.
Dealers say the premium, which ballooned on short covering by funds, has become more volatile as speculators take advantage of the position ahead of the contract's expiry on July 14.
Cadbury Schweppes Plc said on Friday it had recalled over 1 million chocolate bars in the UK and Irish markets in a precautionary move, because they could contain minute traces of salmonella.
Coffee down
London robusta coffee futures ended down in low-volume trade on Friday with speculators on both sides of the market, dealers said.
The benchmark September contract settled down $10, or 0.9 percent, at $1,140 a tonne after trading between $1,151 and $1,138. Total volume was 6,016 lots.
"There was very, very little volume ... Small specs were doing a little selling. They were on both sides (of the market)," one dealer said.
There was little recent news in the market to spur trade, the dealer added.
The dealer said there was some support from trade and speculators on the bottom end of the trading range.