Commodity Information 1st Week February 2012

Sotf Commodity information

Sugar rose to a one-week high as rain cut supplies from Thailand, the world’s second-largest exporter, while crops are delayed in Brazil, the top producer.

Thailand’s sugar production fell 1.9 percent to 4.57 million metric tons in the first 78 days of the season that began on Nov. 15, according to data from the Office of Cane and Sugar Board. Brazil’s sugar-cane output is delayed after two frosts in June killed crops maturing for the next harvest, according to Raizen, a joint venture of Royal Dutch Shell Plc and Cosan SA Industria e Comercio.

Raw sugar for March delivery jumped 2.3 percent to settle at 24.5 cents a pound at 2 p.m. on ICE Futures U.S. in New York.

Arabica-coffee futures for March delivery rose 1.3 percent to close at $2.188 a pound on ICE. Cocoa futures for March delivery declined 1.6 percent to $2,263 a ton in New York.

Grains and Oilseeds commodities

Wheat futures gained for the first time in three sessions on speculation that cold weather in France, Germany and Ukraine will damage dormant crops.

Temperatures reached minus 15 degrees Celsius (5 degrees Fahrenheit) in France’s Alsace and Lorraine regions yesterday, according to forecaster Meteo France. In northern Germany, where some fields lack a protective layer of snow, soil temperatures have dropped below minus 8 degrees Celsius, Deutscher Wetterdienst said.

Cold weather in the Black Sea region also has hurt crops.

Wheat futures for March delivery gained 1.2 percent to $6.685 a bushel on the Chicago Board of Trade. Prices fell 2 percent in the previous two sessions and are down 22 percent from a year ago.

Soybeans rose, capping the longest rally in five weeks, as China’s demand for U.S. supplies increased after unusually dry weather reduced output in South America.

Oilseed processors in China, the world’s largest consumer, ordered 10 cargoes last week from the U.S. for March delivery because prices were more competitive than South American costs, according to Grain.gov.cn.

Argentina’s crop will fall to 46.5 million metric tons, down from 49 million a year earlier, and farmers in Brazil will harvest 70 million, down from 75.5 million, Informa Economics Inc. said Feb. 3.

Soybean futures for March delivery rose less than 0.1 percent to close at $12.33 a bushel on the Chicago Board of Trade, capping the first five-session rally since late December.

Corn futures for March delivery fell less than 0.1 percent to $6.4425 a bushel, snapping a four-session rally. On Feb. 1, the price touched $6.50, the highest since Jan. 12, on speculation that dry weather would reduce South American yields.

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