COFFEE
* July arabica coffee futures jumped 6.85 cents or 2.4 percent to settle near the session peak at $2.9425 per lb, the highest settlement for the second position since March 9.
* July hit a five-week high for the fifth straight day. Session high reached $2.9465, near last month's 34-year high for the second position at $2.9665.
* Market rallied on a combination of buying by roasters, investors and the trade as the market resumed its upward trend amid decreasing producer selling - traders. * Investors were seen having plenty of room to increase their long positions - traders.
* Tight supplies of arabica beans lifted the market higher - traders.
* First notice day for the May contract is Wednesday.
COCOA
* Key July cocoa futures closed up $10 at $3,067 a tonne.
* May closed at a $50 premium to July, from $70 Monday.
* July found strong support around the 200-day moving average where it found commercial buying and corrected higher after Monday's sharp fall down 3.2 percent - traders.
* Market continued to wait for exports to resume from top grower Ivory Coast - traders.
* Favorable weather in Ivory Coast's cocoa growing regions last week was expected to help boost volumes during the mid-crop harvest, adding to a backlog of beans stockpiled at the nation's ports.
* Cocoa output from the world's No. 2 grower Ghana is running 47 percent higher than last year, according to official figures on Tuesday, helping to offset export delays from neighboring Ivory Coast.
Source : Reuters
