SOFTS-Sugar at 2-month low after cane data, NY cocoa at 8-1/2-month trough

martes 12 de enero de 2016 15:02 GYT

* Higher-than-expected Unica data weighs on sugar

* European Q4 cocoa grind may rise by 2 to 3 percent

* Arabica forms double bottom with Monday's 8-week low (Updates prices; adds comment, byline, NEW YORK dateline)

By Marcy Nicholson and David Brough

NEW YORK/LONDON, Jan 12 (Reuters) - Raw sugar on ICE fell for the seventh straight session and hit a two-month low in heavy volume on Tuesday, forming a potentially supportive technical pattern after the release of stronger-than-expected cane data in center-south Brazil.

New York cocoa futures fell to an 8-1/2-month low, hurt by the sharply lower British pound, in their seventh down session out of the past eight.

Arabica coffee futures inched lower on pressure from the strong U.S. dollar, matching Monday's nearly eight-week low but consolidating after the prior session's 3.8 percent tumble.

Sugar turned lower after data from cane group Unica showed a bigger-than-expected 210 percent jump in Brazil's center-south sugar production in the second half of December from a year earlier as mills tried to make up for weeks lost to rain this season.

"The focus now will be prospects for the next harvest in center-south Brazil," said Capital Economics commodities economist Hamish Smith.   Continuación...