LONDON, Dec 14 (Reuters) – Arabica coffee futures on ICE turned lower on Wednesday as a technically-driven rally ran out of steam while sugar prices were higher.
* March arabica coffee KCc2 fell 0.6% to $1.6685 per lb by 1522 GMT.
* Dealers said the market was back on the defensive after rallying earlier this week, weighed partly by the continued rise in exchange stocks.
* ICE certified coffee stocks stood at 717,646 bags on Dec. 13, the highest level since July 20 and well above a 23-year low of 382,695 bags set on Nov. 3. There were 346,116 bags pending grading.
* March robusta coffee LRCc2 rose 0.05% to $1,873 a tonne.
* Dealers noted the harvest in top robusta producer Vietnam was around 70% complete with further rains adding to concerns about the quality of the crop.
* March raw sugar SBc1 rose 1.7% to 20.09 cents per lb, boosted partly by higher energy prices.
* Dealers said supplies were expected to be ample next year although there remained some short-term tightness partly driven by delays to the harvest in major exporter Thailand.
* March white sugar LSUc1 rose 1.4% to $547.30 a tonne.
* March London cocoa LCCc1 rose 0.2% to 1,955 pounds a tonne.
* A total of 82,770 tonnes of cocoa was tendered against the ICE December London cocoa contract LCCZ2, exchange data showed on Wednesday.
* March New York cocoa CCc2 fell 0.6% to $2,525 a tonne.
(Reporting by Nigel Hunt; Editing by Louise Heavens, Elaine Hardcastle)
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