COFFEE
* July arabica coffee futures climbed 5.20 cents or 1.8 percent to finish at $2.9945 per lb, the highest settlement for the second position since 1977.
* July pierced the key $3/lb level intraday as chart
indicators were bullish after climbing 17 percent in 15 sessions.
* Market lifted by the strong commodity complex was buoyed by lingering worries over the U.S.. fiscal health, which hammered the dollar and caused investors to look to alternative assets - traders.
* Premium of the second-position arabica over second-position Liffe robusta soared to $1.87 per lb.
* Today is first notice day for the May contract with 1,608 lots being issued by April 20, its biggest in two years - ICE.
* Indonesia robusta beans stayed at premiums to London futures as purchases from domestic roasters stirred up trade, while Vietnam could be under pressure from the prospect of a bigger output in the next crop.
COCOA
* Key July cocoa futures rose $39 to finish at $3,106 a tonne.
* May closed at a $25 premium to July, from $50 Tuesday, as it was in its delivery period.
* Market was lifted by the strong pound against the U.S. dollar and the rallying commodity complex, but its gains were much smaller than other commodities - traders.
* Volume was thin as many dealers sat on the sidelines waiting to seen how long it will take for exports in top grower Ivory Coast to resume - traders.
* Ivorian security forces have launched an offensive to stamp out remaining militia and mercenaries loyal to former president Laurent Gbagbo who are holed up in an Abidjan neighbourhood - officials.
Source : reuters
