July 21, 2016 / 12:37 PM / 4 years ago

SOFTS-Sugar and coffee rise on tight supply; cocoa dips

* Trade sees brisk cane crush in centre-south Brazil
    * Forecasts for cool coffee temperatures in Brazil

    By David Brough
    LONDON, July 21 (Reuters) - Sugar futures on ICE rose on
technically driven buying in light volumes on Thursday, with
upside limited by a brisk cane crush in Brazil, while coffee
edged higher on tight global supply.
    Cocoa eased on concerns about demand and technical weakness.
    The global sugar market has been supported by a shift into
deficit after years of surpluses, but gains were kept in check
on Thursday as the cane crush in centre-south Brazil benefited
from favourable weather.
    "The sugar bulls need a fresh 'story' at the moment as we
have drifted lower, with sugar bears pointing to a huge net spec
long position," said Tom Kujawa, co-head of the softs department
at Sucden Financial Sugar.
    October raw sugar on ICE was up 0.17 cents, or 0.9
percent, at 19.45 cents per lb by 1216 GMT, holding just above
Monday's three-week low of 19.13 cents.
    October white sugar was up $1.20, or 0.2 percent, at
$535.10 a tonne.
    Coffee futures firmed on concern about forecasts for cool
weather in a part of top producer Brazil's growing region later
this week. 
    September arabica was up 0.7 cents, or 0.5 percent,
at $1.4770 per lb, underpinned by concerns over the quality of
new-crop Brazilian beans. 
    September robusta was up $6, or 0.3 percent, at
$1,822 a tonne, buoyed by a very poor harvest in Brazil and a
slow start to harvesting in Indonesia.
    A softer British pound against the U.S. dollar
limited losses of sterling-based London cocoa.
    September London cocoa was down 24 pounds, or 1
percent, at 2,393 pounds a tonne after touching its lowest since
July 1 at 2,389 pounds.
    September New York cocoa was down $20, or 0.7
percent, at $2,949 a tonne after falling as low as $2,947, the
lowest since May 27.

 (Editing by David Goodman)
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