LONDON: Raw sugar futures on ICE eased on Friday pressured by plentiful near-term supplies, while cocoa steadied after rallying to within sight of a fresh three-year peak in month-end dealings.
Arabica coffee eased in choppy trade, with the market focused on drought damage to Brazilian crops.
Volume was light in the ICE softs markets ahead of Monday's closure for the US Labor Day holiday. Regular trading will resume on Sept. 2, the exchange said.
Benchmark ICE October raw sugar futures were off 0.13 cent or 0.8 percent at 15.43 cents at 1623 GMT, within sight of Monday's seven-month low of 15.30 cents.
Raw sugar futures were on track to fall some 6 percent during August, pressured by plentiful nearby supplies and global stocks. Top grower Brazil is at the height of its sugar harvest.
"Futures prices are reflecting a lack of demand for Central American and Thai sugars," said James Kirkup, head of sugar brokerage at ABN AMRO in London.
October whites on Liffe traded down $3.50, or 0.8 percent, at $422.40 per tonne in light volume of 2,714 lots.
Cocoa futures on ICE steadied in month-end dealings after the market edged closer to a three-year peak set earlier this week.
ICE December cocoa was up $3 or 0.1 percent at $3,231 a tonne. The contract peaked at $3,300 on Wednesday, the highest level for the second position since May 2011.
Cocoa futures lost ground after the International Cocoa Organization (ICCO) released a report expecting a global surplus in 2013/14.
The ICCO revised its forecast for the global cocoa balance in the 2013/14 season to a surplus of 40,000 tonnes from the deficit of 75,000 tonnes it had previously anticipated.
Liffe December cocoa futures were down 18 pounds, or 0.9 percent, at 2,016 pounds per tonne in moderate volume of 9,690 lots.
"Losses in breach of the recent low at 2,013 pounds will then look to target 2,000 while any further losses will look to converge on support at the 40 day moving average around 1,974," said Kash Kamal, research analyst with Sucden Financial.
In coffee, ICE December arabicas were down 1.1 cents, or 0.6 percent, at $1.9890 per lb, having traded above the key $2 level, which has attracted origin selling, dealers said.
"Further gains could have the potential to target levels towards $2.05," Kamal said. November robusta futures on Liffe traded up $6, or 0.3 percent, at $2,045 a tonne in modest volume of 5,182 lots.
"Any subsequent rally will look to target recent highs towards $2,077 and then $2,100," Kamal said.
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