Arabica coffee futures closed down on Wednesday, easing further away from a 34-year high touched earlier this month, while cocoa was little changed as an export ban in top grower Ivory Coast kept things at a standstill.
Raw sugar volume dribbled lower on follow-through sales by small speculators in the lightest daily volume in nearly three months, as many players were sidelined waiting for the start of Brazil's prime centre-south harvest, dampening interest in the sweetener, dealers said.
ICE May arabica coffee dropped 4.85 cents, or 1.77 percent, to settle at $2.6860 per lb. It was an inside day relative to Tuesday's trading range.
A bearish target at $2.64 per lb is unchanged for New York coffee based on its wave pattern, Reuters analyst Wang Tao said.
Cocoa futures eased, but losses were limited by conflict in Ivory Coast, with supplies from the West African country limited by an export ban, EU sanctions and a crippled banking system. ICE May cocoa inched down $12 to settle at $3,251 per tonne, below the recent 32-year peak of $3,775.
ICE May raw sugar futures fell 0.58 cent to close at 26.58 cents per lb, with total daily volume around 41,000 lots, the lowest since late December.
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