U.S. cocoa settled weak after paring steep losses, narrowing the May-July spread and indicating signs of supply availability despite the Ivorian crisis. Raw sugar tumbled to finish down a heavy 5.6 percent.
* Benchmark May cocoa futures sank $82 to finish at $3,445 per tonne, after falling 5.6 percent to a one-month low at $3,328.
* May closed at a $34 premium to July, narrowing from $40 the previous session, indicating that supplies are available on the market - one veteran trader.
* Market tumbled on profit taking and sell-stops below $3,400 - dealers.
* Total open interest rose to 167,705 lots on March 9, up 533 lots from the previous day and reaching the highest level since March 2008 for the second straight day.
* May pared losses finding strong support at $3,320.
* Envoys of Ivory Coast's Laurent Gbagbo rejected an African Union proposal to end a violent power struggle and warned that the West African country now risked a return to civil war. ******
* May closed at a $34 premium to July
* Market tumbled on profit taking and sell-stops below $3,400 - dealers.
* Total open interest rose to 167,705 lots on March 9, up 533 lots from the previous day and reaching the highest level since March 2008 for the second straight day.
* May pared losses finding strong support at $3,320.
* Envoys of Ivory Coast's Laurent Gbagbo rejected an African Union proposal to end a violent power struggle and warned that the West African country now risked a return to civil war. ******
