NEW YORK/LONDON (Reuters) – Raw sugar futures fell to a two-week low on Friday, with rain forecast over the weekend helping sugar cane crops in south-central Brazil , while Arabica coffee recovered most of the losses of recent days.
SUGAR
* Raw sugar for March closed down 22 cents, or 1.2%, at 17.86 cents a lb, after hitting a two-week low of 18.09 cents.
* Operators said rains forecast over the weekend in south-central Brazil could help improve soil moisture levels and prospects for this year’s sugarcane crop.
* An improving outlook for production in India has also contributed to recent market weakness.
* White sugar for March was down $4.50, or 0.9%, to $495.20 a tonne.
COFFEE
* Arabica coffee for March closed up 3.85 cents, or 1.7%, at $2,359 a pound. The market had a small weekly loss of 0.65%.
* Operators said focus remains on the outlook for this year’s crop in Brazil and the extent to which last year’s frosts and drought could reduce production.
* Trading company Comexim expects Brazil to produce 63.2 million bags of coffee in the 2022/23 crop, an increase of 16.6% over the previous crop, as coffee plantations show a relative recovery due to better care with the farming and good weather.
* March robusta coffee closed up $2, or 0.1%, at $2,193 a tonne.
(Reporting by Marcelo Teixeira and Nigel Hunt)
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