New York Futures: Arabica Coffee Futures rise, Cocoa Futures fall

New YORK / London Nov 25 (Reuters)-Arabica coffee futures rose in volatile trading on Tuesday, the biggest one-day gain in a week, as investors took a wait-and-see attitude before Brazil's 2016 harvest outlook became clearer. Technical factors dominate the market. Cocoa futures recorded their biggest one-day drop in nearly two weeks.

Raw sugar futures closed basically stable, and the previously released Brazilian sugar cane crushing data were in line with expectations.

Trading volume in soft goods markets was generally below average before the U.S. market was closed for the Thanksgiving holiday on Thursday, according to preliminary Thomson Reuters data.

ICE- March Arabica Coffee Futures (KCc2) closed up 4.55 cents, or 2.4%, at $1.9505 a pound, following a late buying spree after the contract broke through the key moving average.

"the market has held its [technical] support and, fundamentally, supply has been reduced," said Jack Scoville, vice president of Price Futures Group.

January Robusta coffee futures (LRCc2) closed down $4, or 0.2%, at $2095 a tonne.

In the cocoa market, ICE- March New York cocoa futures (CCc2) closed down $42, or 1.5%, at $2824 a tonne, prompting investors to close their positions as the technical and fundamental outlook became increasingly bearish.

ICE- March London cocoa futures (LCCc2) closed down 20 pounds, or 1.1%, at 1873 pounds per tonne.

ICE- March Raw Sugar Futures (SBc1) closed flat at 16 cents per pound, fluctuating in intraday trading, falling after jumping 1.3%.

ICE- March sugar futures (LSUc1) closed down $1.90, or 0.5%, at $415.80 a tonne.