Raw sugar ends lower after hitting near two-week high
Updates with comments on coffee and sugar, adds closing prices
NEW YORK, July 31 (Reuters) - Raw sugar futures on ICE closed down on Wednesday, slipping from an earlier near two-week peak, with an improving outlook for crops in key Asian producers India and Thailand weighing on prices.
SUGAR
* October raw sugar SBc1 settled down 0.18 cents, or 0.9%, at 18.94 cents per lb, after climbing to as high as 19.32 cents.
* Dealers said there were still concerns about dry weather in Brazil, although a slight decline in production in the key Centre-South region may already have been priced in.
* Monsoon rains in India and Thailand had also improved the outlook for cane crops in those countries, they added.
* India received 9% more rainfall than average in July as the monsoon covered the entire country ahead of schedule, weather department data showed on Wednesday.
* Traders are also following discussions in India regarding a potential clearance for exports.
* October white sugar LSUc1 fell 0.7% at $535.00 a metric ton.
COFFEE
* September arabica coffee KCc1 settled down 1.6 cent, or 0.7%, at $2.292 per lb with the harvest in Brazil now more than 80% complete and the pace of exports picking up.
* Brazil's coffee co-op Cooxupe warned on Wednesday that the 2025 crop in the country could be hurt if climate conditions remain unfavorable.
* September robusta coffee LRCc1 fell 0.1% at $4,261 a ton.
* Dealers said the slow pace of exports from top robusta producer Vietnam remained a supportive factor, although it had been partially offset by a strong flow of robusta shipments from Brazil.
COCOA
* September London cocoa LCCc1 settled down 121 pounds, or 1.8%, to 6,427 pounds per ton, erasing some of the prior session's steep gains.
* Dealers said the weather in Ivory Coast remained generally favourable, boosting the outlook for 2024/25 crops.
* September New York cocoa CCc1 fell 0.5% to $8,092 a ton.
Reporting by Nigel Hunt and Marcelo Teixeira; Editing by Varun H K, Ros Russell and Tasim Zahid
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