Robusta coffee prices slip from more than two-month peak
Adds background, updates prices
LONDON, Nov 28 (Reuters) -Robusta coffee futures turned lower on Thursday after touching their highest in more than two months while white sugar prices also fell.
New York-based arabica coffee, cocoa and raw sugar contracts were closed on Thursday for the U.S. Thanksgiving.
COFFEE
* January robusta coffee LRCc1 fell by 0.3% to $5,517 a metric ton by 1621 GMT after rising in early trading to a more than two-month peak of $5,613.
* Dealers said the current strength in arabica futures, which rose on Wednesday to the highest levels in nearly half a century, was boosting the robusta market.
* Dealers said industrial action in top arabica producer Brazil could further tighten coffee supplies.
* Brazilian federal auditors have started a nationwide strike over pay, according to a post on the union's website warning that the action would last indefinitely and include a protest in the capital Brasilia next week.
* A slow start to the harvest in top robusta producer Vietnam has provided support.
* "The volume of newly harvested beans we have bought from farmers so far this crop year is way lower than previously," a trader in Vietnam's coffee belt said.
* Brazilian coffee traders Atlantica and Cafebras will negotiate with their creditors in court, they said in a statement on Wednesday, citing debt issues caused by poor crops and currency moves.
SUGAR
* March white sugar LSUc1 was down 0.8% at $555.70 a ton.
* Dealers noted a weak tail to Brazil's sugarcane crop was helping to underpin prices, with mill closures running well ahead of normal.
* Brazil's agriculture state agency Conab on Thursday estimated Brazilian sugar production in 2024/25 at 44 million metric tons, down from a previous forecast of 46 million tons.
COCOA
* March London cocoa LCCc2 rose by 1.7% to 7,570 pounds a ton.
Reporting by Nigel Hunt
Editing by David Goodman and David Evans
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