NY COFFEE AND COCOA market close review for today, April 26, 2011
COFFEE
* July arabica coffee futures surged 5.50 cents or 1.9 percent to finish at $2.9630 per lb.
* Contract moved closer to last week's 34-year peak at $3.0250 per lb.
* Total volume light at 12,287 lots, down 39 percent from the 30-day average - preliminary Thomson Reuters data.
* Market reversed higher on commercial buying at the lows and investor buying, while the weak U.S. dollar also gave a lift - traders.
* Tight supplies of washed arabica beans continued to buoy prices - traders.
* Vietnam's April coffee exports jumped an estimated 30.3 percent from the same month in 2010 to 155,000 tonnes, or 2.58 million bags, exceeding market expectations - agriculture ministry.
* ICE certified arabica stocks fell to 1,577,675 bags on April 25, down 1,550 bags from the previous day with a heavy 50,587 bags pending grading.
COCOA
* Key July cocoa futures rose $33 or 1.1 percent to close at $3,093 per tonne.
* Total volume light at 6,223 lots, down 61 percent from its 30-day average (16,066) - preliminary Thomson Reuters data.
* Market moved higher in rangebound dealings and traders waited to see when the pace of Ivorian exports would pick up and kept an eye on the country's midcrop development - traders.
* Ivory Coast's cocoa and banking sectors are set to resume operations within days, signaling big steps toward restoring normality in the conflict-torn West African state - officials.
* Patchy rains and sun in Ivory Coast's cocoa growing regions last week was good news for the development of the April-to-September mid-crop - farmers, analysts.
