LONDON, Aug 17 (Reuters) - ICE raw sugar futures fell early on Thursday, weighed by a stronger dollar as focus returned to the stalling global economic recovery.
ICE coffee futures inched up, boosted by positive technicals, and cocoa prices eased as ample supplies weighed.
* Arabica KCc2 and robusta LRCc2 coffee futures firmed, supported by strong technical sentiment.
* New York coffee KCc2 will continue to climb rapidly to $2.7190, a high touched on July 7, as indicated by its wave pattern, according to Reuters analyst Wang Tao.
* Dealers said both markets had a large speculative short position making markets vulnerable to a short covering rally.
* December arabica coffee on ICE rose 0.9 cent or 0.3 percent to $2.6770 per lb at 0816 GMT.
* Premiums for Vietnam’s robusta coffee slipped from an all-time high ahead of the new harvest in October, while trading slowed to a trickle in neighbouring Indonesia before a Muslim religious festival, dealers said on Wednesday.
* November robusta coffee on Liffe was up $36 or 1.5 percent at $2,416 per tonne.
* ICE October raw sugar futures dipped, as dealers kept one eye on nagging worries over global economic growth.
* Investors are torn between downward revisions in sugar production in top exporter Brazil, due to a combination of weather factors and aging cane, and expectations for big northern hemisphere crops in the fourth quarter.
* October raw sugar on ICE was down 0.23 cent or 0.8 percent at 29.26 cents.
* Raw sugar futures have fallen by around 8 percent since hitting a contract high of 31.68 cents a lb last month on Brazil crop concerns.
* Increasing demand for sugar by China, Indonesia and Malaysia in the next few years is likely to lead to a surge in production by small suppliers such as southern African and Latin American countries as the big exporters fail to keep pace.
* October white sugar on Liffe rose $1.00 or 0.13 percent to $772.20 per tonne.
* Cocoa futures on ICE eased in early trading, as continued upward revisions to West Africa’s 2010/11 crop weighed on prices.
* A record 2010/11 global surplus is expected after ideal weather and increased husbandry triggered a bumper West African crop.
* December cocoa on ICE was down $14 or 0.5 percent to $3,025 a tonne.
* European equities followed Asian stocks lower on Thursday as investors fretting about the global growth outlook cut exposure to riskier assets, while the Swiss franc fell on talk the central bank was intervening in the forwards market.
* The global economy is “dangerously close to a recession,” Morgan Stanley said and slashed its growth forecast for 2011 and 2012, citing recent policy errors in the U.S. and Europe and the prospect of further fiscal tightening in 2012. (Reporting by David Brough; Editing by Alison Birrane)