LONDON: Raw sugar futures slipped back on Tuesday from the prior session's seven-month high with news that Indian mills have signed deals to export, helping return the focus to excess supplies.
SUGAR
* March raw sugar was down 0.11 cent, or 0.85 percent, to 12.83 cents per lb at 1121 GMT. The front month rose to a seven-month peak of 12.98 cents on Monday.
* Dealers said the market could see a modest setback after its recent strong advance as it continues to struggle to absorb excess supplies.
* "With sugar week upon us here in London, the debate will heat up in cocktail parties but the feeling we get so far is that many do not trust this recent rally given that fundamental news to alter the supply demand balance has not really emerged," said Sucden Financial senior trader Nick Penney.
* The biennial London sugar dinner is on Thursday.
* Indian sugar mills have signed deals to export raw sugar for the first time in three years as a rally in New York prices to seven-month highs along with government subsidies made exports lucrative, five dealers and two industry officials told Reuters.
* December white sugar rose $0.20, or 0.1 percent, to $350.40 a tonne.
COFFEE
* December arabica coffee rose 0.35 cents, or 0.3 percent, to $1.1220 per lb. The contract peaked at $1.1295 on Monday, its highest since Aug. 7.
* The contract may rise to $1.1650 per lb, as suggested by its wave pattern and a retracement analysis, according to Reuters technical analyst Wang Tao.
* November robusta coffee gained $3, or 0.2 percent, to $1,687 a tonne.
* Vietnam exported 1.795 million tonnes (29.9 million 60-kg bags) of coffee in the 2017/18 crop year, an increase of 12.3 percent from the previous crop, customs data showed on Tuesday.
COCOA
* December New York cocoa fell $3, or 0.1 percent, to $2,084 a tonne.
* December London cocoa rose 2 pounds, or 0.1 percent, to 1,555 pounds a tonne.
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