Coffee, Sugar, Cocoa Climb

The New York Mercantile Exchange was closed Monday. All U.S. financial markets will be closed Tuesday, in observance of the July 4 holiday.

On the New York Board of Trade, July Arabica coffee rose 2.5 cents to close at $1.02 a pound.

Brazil's Arabica supplies were tight when the harvest got under way last month. Brazil exported 1,304,620 bags in June versus 1,915,045 in May.

From January to June, Vietnam _ the top robusta exporter _ shipped 8.75 million 60-kilogram bags, down 12.4 percent from a year earlier.

Vietnam's 2005-06 production was 12.33 million bags, down significantly from 2004-05 because of drought, according to USDA. The nation's 2006-2007 output is forecast at 13.83 million bags with better weather in late 2005 and early 2006.

The New Orleans coffee industry is back on its feet 10 months after Hurricane Katrina, with roasters, warehousers and importers saying they face only minor obstacles now to doing business in the nation's top-roasting center and second-largest java port.

"Business is back to normal," said Stephen P. Murphy, coffee trader at Westfeldt Brothers Inc., importers in the city. "But one remaining problem is that we've been singled out for higher freight rates and a hurricane premium that isn't being charged for coffee going into Houston, Miami or other Florida ports."

Meanwhile, futures of raw sugar in foreign ports surged to five-week highs.

October sugar futures settled 0.28 cents higher at 16.62 cents a pound.

In cocoa trading, the September contract pushed to a one-year high on speculative buying and short covering amid rising investor interest. The most active September contract settled up $28 at $1,667 a ton, after peaking at $1,678 a ton.

While coffee, sugar and cocoa climbed, cotton futures finished the day sharply lower on speculative selling.

The most-active December contract finished the day 0.97 cents lower at 53.19 cents per pound.

On the Chicago Board of Trade, July soybeans ended 6.75 cents higher at $6.0150. July corn gained 7.7 cents to $2.4320 a bushel. September wheat gained 6 cents to finish at $4.02 a bushel.