London coffee slips

London's robusta coffee slipped on Tuesday in sympathy with losses on the New York arabica market, dealers said.
Liffe's benchmark January contract finished $9 lower at $1,050 a tonne after trading a $1,048-1,059 range. It contributed volume of 3,800 lots to a total of 6,193.
The January robusta contract has been hovering below a recent high of $1,079 as worries about tight supply in top grower Vietnam keep prices firm. But some dealers said further weakness in New York could undermine Liffe futures.
"London is holding up. But if it drops another $10 or so there are stops around $1,042 and then it could drop $20," one trader said.
The New York Board of Trade's benchmark March arabica contract dropped as much as 1.65 cents to 98.50 cents a lb.
Traders reported Vietnamese selling in the market but said producers in the world's largest robusta grower were still holding back beans in the hope that a smaller harvest this year would push up prices.
Vietnamese traders said few exporters have sealed deals since futures prices rose in London on Monday, and overall trading was slow, with the harvest yet to reach its peak in the coffee belt.
COCOA EASES: London cocoa futures eased on Tuesday and dealers said business was quiet as the market waited for New York to provide direction.
Liffe's second-month March concluded four pounds down at 856 pounds a tonne while front-month December shed six pounds to close at 839. Both contracts were near the bottom end of a 15-16 pound range and traded over 3,200 lots.
Total volume was 7,611 lots after less spread activity than in recent days.
Cocoa has held fairly steady for the past week after retreating from last Wednesday's 894 high. Hedging is expected to limit gains in coming weeks as West African shipments of the main crop get fully underway but concern is emerging about an earlier than expected end to the main harvest.
SUGAR STEADIES: London white sugar futures closed steady just off seven-week highs on Tuesday after a session marked by fund buying against producer selling, traders said.
Benchmark March settled up 10 cents at $310.40 per tonne in volume of 2,722 lots, after trading from $309.20 to $313.50.
May concluded up 50 cents at $317.40 per tonne in volume of 581 lots, having moved from $316 to $319.