LIFFE coffee futures fell slightly in the market with ample supply

On Friday, LIFFE- January Robusta coffee futures on the London International Financial Futures Exchange closed down $1, or 0.05%, at $2074 a tonne, on the back of abundant supply in Vietnam, the largest coffee grower.

New York Arabica coffee futures rose on Friday, driven by technical buying, but cocoa futures fell, extending their longest weekly decline since the end of 2012, as technology was weak and supplies were abundant in C ô te d'Ivoire, the largest grower.

Sugar fell as demand was flat and much-needed rain was expected in the arid areas of Brazil, the world's largest sugar cane grower.

ICE- March Arabica coffee futures rose 3.2 cents, or 1.7%, to $1.9635 a pound, rebounding further from a six-week low of $1.8540 hit on Monday. The contract rose 5 per cent this week, closing higher for the first week since early October.

The March contract broke through the Fibonacci retracement of 23.6%, triggering a technical buy signal.

ICE- March cocoa futures closed down $24, or 0.9%, at $2797 a tonne. The contract continued its decline after plunging to a nine-and-a-half-month low of $2780 on Thursday. The contract fell for the fifth straight week, the longest decline in two years, as the supply outlook became more bearish and the technical side was weak.

Liffe- March cocoa futures closed down 10 pounds, or 0.5%, at 1863 a tonne, hitting their lowest level since May on Thursday. Liffe- December sugar futures closed up 80 cents, or 0.2%, at $424.90 a tonne.

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