SOFTS-ICE coffee, sugar dip, Spain worries weigh

Arabica coffee and raw sugar futures on ICE eased on Tuesday, as concerns over Spain eclipsed investors' relief following Greece's vote for pro-bailout parties.

Cocoa futures were steady with dealers focused on forecasts for potential El Nino weather conditions which could cut prospects for the 2012/13 crop.

COFFEE

* Arabica coffee futures were slightly lower in early trade, digesting recent losses, trading just above Monday's two-year low.

* September futures were down 0.1 cent or 0.1 percent at $1.5140 per lb at 0954 GMT. On Monday, the second month fell to $1.5010, the lowest level for the benchmark since June 2010.

* A bearish target at $1.4630 per lb remains unchanged for New York July coffee, as indicated by its wave pattern and a Fibonacci projection analysis, according to Reuters market analyst Wang Tao.

* Robusta futures on Liffe eased, with September down $9 or 0.4 percent at $2,070 a tonne.

* Trading on Vietnam's coffee markets slowed this week as exporters failed to secure beans from domestic markets while farmers held back sales as rising prices have not met their expectations, traders said on Tuesday.

* El Salvador's coffee harvest next season will increase 14 percent over the current season, reaching 1.44 million 60-kg bags, the country's coffee institute, Procafe, said on Monday.

SUGAR

* Raw sugar futures on ICE eased, consolidating recent gains, after worries over top producer Brazil's harvest helped trigger a short covering rally last week.

* July's premium to October SB-1=R remained firm, widening to 0.91 cent, as dealers eyed wet weather forecasts which could further delay Brazil's harvest progress.

* A week of rainy weather is headed for Brazil's main cane belt, which will interrupt crushing in the world's largest producer of sugar, local forecaster Somar said on Monday.

* July raw sugar futures were down 0.1 cent or 0.5 percent at 20.76 cents a lb.

* London August white sugar was up 20 cents or 0.03 percent at $595.50 per tonne.

* New York July sugar is expected to end the current rebound at or below resistance at 21.17 cents per lb, as indicated by its wave pattern and a Fibonacci ratio analysis, according to Reuters analyst Wang Tao.

* Cocoa futures on ICE edged up, as dealers monitored forecasts for the El Nino weather phenomenon which can cause a fall in global cocoa production.

* Dealers said it was too early to predict any potential impact of El Nino on production with variables including its intensity and duration.

* Australia's Bureau of Meteorology said climate models it surveys continue to indicate a return of an El Nino weather pattern, often linked to heavy rainfall and droughts, later this year.

* ICE September cocoa futures were up $13 or 0.6 percent at $2,202 a tonne.

* Cocoa arrivals at ports in Ivory Coast are slightly lagging last year's levels, exporters estimated on Monday, with the quality of beans and prospects of a slow start to next year's crop also hanging over the sector in the world's top grower.

* New York second-month cocoa will fall more into a range of $2,123-$2,151 per tonne, as a rebound from the June 4 low of $2,031 has ended, according to Reuters analyst Wang Tao.

* Liffe September cocoa futures were up 7 pounds at 1,520 pounds per tonne.

OTHER MARKETS

* The euro fell against the dollar on Tuesday after a German court said the government had not consulted parliament sufficiently about the configuration of Europe's permanent bailout scheme, unnerving investors already wary ahead of two Spanish debt auctions.

* Brent crude futures hit a fresh 16-month low at $94.44 a barrel on slack demand due to fears about the slowing the euro zone economy ahead of Spanish bond sales. (Reporting by Sarah McFarlane; editing by Jason Neely)

From: af.Reuters.com