NEW YORK, Arabica coffee futures ended weak on Monday, as investors fled risky assets as the world's third-biggest consumer Japan coped with the aftermath of a devastating earthquake.
U.S. cocoa also finished lower, falling from the sessionhighs after trading firm for much of the session on concern about escalating violence in top grower
Ivory Coast and uncertainty about the Ivorian export ban set to expire Tuesday.
The opening times for these markets have been temporarily delayed by one hour, through March 25, due to seasonal time changes.
COFFEE
* May arabica coffee futures closed down 1.10 cents at $2.7330 per lb.
* The market settled lower for the third straight day after hitting a 34-year high at $2.9665 per lb last week.
* Coffee futures fell along with the commodity complex, as the third-biggest economy Japan coped with a nuclear crisis, and the earthquake and tsunami aftermath - traders.
* The economic picture caused many to take money off the table where riskier assets, such as commodities, were concerned - traders.
* Brazil's government plans to begin offering loans to coffee farmers to cover the cost of using hedging instruments, including margin payments on futures and option premiums, a senior coffee official told Reuters.
COCOA
* Benchmark May cocoa futures fell $23 to settle at $3,389.
* May closed at a $30 premium to July , widening slightly from $28 the previous session.
* Market was strong for most of the session on concern as top grower Ivory Coast appeared on the brink of civil war and on uncertainty about the scheduled end of the export ban there - traders.
* Gunfire and explosions broke out in an Abidjan stronghold of Laurent Gbagbo, just outside the private house of his army chief in Ivory Coast, witnesses and a security source said, but state TV denied his residence had been attacked.
* Prices turned lower, joining the weak commodity complex down as investors fled risky assets - traders.
* Patchy rains mixed with hot weather last week in Ivory Coast's cocoa regions provided good condition for better quality and abundant mid-crop growth compared with last season.******
