Arabica coffee futures hit a three-week high

New YORK / London (Reuters)-Arabica coffee futures hit a three-week high on Thursday as the recent rebound gained momentum and the market focused on production cuts in Brazil. New York cocoa futures hit a more than six-week low as funds continued to close their positions.

Raw sugar futures fell for the third day in a row as the Brazilian real continued to fall.

ICE May Arabica coffee futures closed up 4.10 cents, or 2.9%, at $1.4415 a pound, after climbing the next monthly contract to $1.4675 since Feb. 25.

Us coffee traders said Arabica coffee futures rose on concerns about production in drought-affected Brazilian coffee bean-growing areas and the continuation of the market's rebound from Friday's low of $1.2875.

Traders also said Brazilian producers were reluctant to sell after the recent fall in prices, further supporting the market.

May Robusta coffee futures fell $4, or 0.2%, to $1815 a tonne.

New York May cocoa futures fell $43, or 1.6%, to close at $2715 a tonne, hitting an intraday low of $2705 since Feb. 3, as the fund continued to close its position.

London cocoa futures in may closed down 26 pounds, or 1.3%, at 1923 pounds a tonne, hitting an intraday low of 1919 pounds since Feb. 5.

May raw sugar futures fell 0.11 cents, or 0.9%, to 12.62 cents per pound.

May sugar futures fell $2.20, or 0.6%, to close at $363.70 a ton.