(Recasts, adds comment, updates prices) LONDON, April 27 (Reuters) - Cocoa futures fell on Thursday, as a bout of short-covering ran out of steam, while raw sugar prices eased to a fresh one-year low. COCOA * July London cocoa fell 23 pounds, or 1.56 percent, to 1,450 pounds a tonne by 1445 GMT, partly pressured by a firmer pound. * This reversed gains from the previous session, when London closed 1.6 percent higher, with dealers noting that the short-covering had now faded. * July New York cocoa also fell $23, or 1.23 percent, to $1,852 a tonne. * `The lifts in the market were purely down to short-covering and the fundamentals of oversupply are still there,` said one...
|
