LONDON, June 1 (Reuters) - Arabica coffee futures on ICE hit a fresh seven-month low on Monday as investors remained worried about the prospect of ample supplies from Brazil.
* July arabica coffee fell 0.9 cents, or 0.9% to 95.40 cents per lb at 1225 GMT, having touched a new seven-month low of 95.25.
* Speculators erased their net long position in ICE arabica futures in the week to May 26 to hold a basically neutral position, CFTC data showed.
* There has been little signs of arabica harvest disruptions due to coronavirus lockdowns, while investors are meanwhile growing worried about demand easing amid the global economic downturn.
* The Brazilian real remains weak overall, tempting exporters to sell by raising the value of dollar-priced coffee in local currency terms.
* July robusta coffee fell $2, or 0.2%, at $1,168 a tonne.
* July raw sugar dipped 0.02 cents, or 0.2%, at 10.89 cents per lb, though losses were limited amid steady oil prices.
* Rising energy prices can tempt cane mills in Brazil to produce ethanol at the expense of sugar, a cane-based biofuel.
* Dealers said sugar’s price upside is capped, however, given ethanol prices would have to rise sharply before it became more profitable for Brazil’s cane mills to cut their sugar allocation in favour of the biofuel.
* Speculators trimmed their net short position in ICE raw sugar in the week to May 26 down to a total 5,381 contracts.
* India, a top sugar producer, is likely to receive above average monsoon rainfall for the second straight year in 2020.
* August white sugar rose $0.70, or 0.2%, at $362.20 a tonne.
* July New York cocoa was up $39, or 1.6%, to $2,492 a tonne, having hit its highest since mid-February.
* Cocoa arrivals at ports in top grower Ivory Coast reached 1.851 million tonnes between Oct. 1 and May 31, exporters estimated, down 5.8% from the same period last season.
* Speculators increased their net short position in ICE New York cocoa by 1,989 contracts to 16,190 contracts in the week to May 26.
* July London cocoa rose 8 pounds, or 0.4%, to 1,968 pounds per tonne. (Editing by Mark Heinrich)