External Morning Review: Arabica Coffee fell with the Real

New YORK / London (Reuters)-ICE raw sugar futures fell to a two-and-a-half-month low on Tuesday, falling for a fourth day as oil prices continued to fall while Arabica coffee futures fell as the Brazilian real fell, attracting investors to close their positions and producers to sell.

Cocoa futures prices rose as fewer cocoa beans arrived at ports in C ô te d'Ivoire (Ivory Coast).

ICE- March raw sugar futures settled down a quarter of a cent, or 1.7%, at 14.71 cents a pound, hitting an intraday low of 14.67 cents since Sept. 25.

March sugar futures closed down $5, or 1.3%, at $383.70 a tonne, hitting an intraday low of $383.50.

"if oil prices remain low for a long time, we will see the impact of weaker oil prices on ethanol production," said MichaelaKuhl, a soft commodities analyst at Commerzbank.

Lower oil prices will make ethanol biofuels made from sugarcane less competitive.

Brazil, the world's largest producer of coffee beans and sugar cane, has seen its currency, the real, continue to fall, attracting investors and producers to sell, traders said.

March Arabica coffee futures settled down 95 cents, or 0.5%, at $1.7770 a pound. March Robusta coffee futures closed down $1, or 0.1%, at $1964 a tonne.

London March cocoa futures closed up 21 pounds, or 1.1 per cent, at 1928 a tonne, above the 200-day moving average of 1912. New York March cocoa futures closed up $41, or 1.4%, at $2914 a tonne.