SOFTS-Sugar eases after Monday's rally, cocoa rises

martes 27 de septiembre de 2016 09:37 GYT

* Sugar eases after 2 pct rally on Monday

* Market technically overbought, dealers say

By Ritvik Carvalho

LONDON, Sept 27 (Reuters) - ICE raw sugar futures fell on Tuesday, easing after a rally in the previous session saw the March contract jump 2 percent.

March raw sugar futures were down 0.05 cent, or 0.2 percent, to 23.07 cents per lb at 1300 GMT.

Dealers said the market was technically overbought so the dip was not unexpected, but the overall mood remained bullish due to an impending deficit in 2016/17.

"I think the general view is the deficit we've got coming for the next season beginning on October 1st is going to get more and more prevalent," said a trader in London.

"It's going to bite in the last quarter of this year and the first quarter of the next."

October raws were up 0.07 cent, or 0.3 percent, to 22.61 cents per lb as the contract heads towards expiry on Friday.   Continuación...