New YORK / London (Reuters)-Intercontinental Exchange (ICE) coffee futures slipped on Monday, with the Robusta market falling to a six-and-a-half-month low as Brazil, the largest producer, raised its 2014 yield forecast for Universe 15, while sugar futures turned from higher to lower.
Cocoa rose for the seventh day in a row as buying signals strengthened on the technical pattern and shipments from Ivory Coast, the largest producer, fell year-on-year.
The market is quite light before Christmas on Thursday.
The Brazilian government has revised up its crop yield estimate for the 15-year crop that ended in August to 45.3 million bales of 60 kilograms, compared with 45.14 million bales at the last estimate in September.
In March, LRCc2 closed down $36, or 1.9 per cent to $1893 a tonne, after hitting $1890, the lowest since June 11.
Arabica coffee (KCc2) changed from up to down in March, settling down 2.55 cents, or 1.5%, at $1.7215 a pound.
March raw sugar futures (SBc1) closed down 12 cents, or 0.8%, at 14.86 cents per pound.
In March, white sugar (LSUc1) closed down $1.80, or 0.5%, at $389.10 a tonne, above the contract low of $383 reached last Wednesday.
London March cocoa futures (LCCH5) closed up 3 pounds, or 0.2 per cent, to 1991 pounds a tonne, having previously reached a high of 2000 pounds, the highest since October 24.
New York cocoa (CCH5) rose $6, or 0.2%, to $2986 a tonne in March. (end)
