SOFTS-Cocoa hits multi-month lows, coffee also weaker

* Cocoa market capped by expected pick-up in origin sales

* Large Brazil coffee crop may offset CentAm shortfall

* Sugar upside likely capped by surplus global supplies

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LONDON, March 6 (Reuters) - Cocoa futures hit multi-month lows on Wednesday with the market weighed by an improving outlook for West Africa mid-crop and the prospect of significant selling by key producers in coming weeks, dealers said.

Arabica coffee on ICE was slightly lower, extending the prior session's steep losses, while raw sugar was little changed as excess supplies kept a lid on both markets.

May cocoa on Liffe was off 3 pounds or 0.2 percent at 1,388 pounds a tonne at 1332 GMT after earlier touching 1,383 pounds, the lowest level for the second month since April 2012.

Dealers said top producers Ivory Coast and Ghana were both out of the market at the moment but are likely to need to sell in the next few weeks, limiting the scope for rallies.

"The longer origin are not in the market, the more bearish it gets," one London broker said. "Any rally will be well sold into with specs front running origin selling."

Dealers said the weakness of the front month spread of Liffe, an indication that overall supplies are ample despite relatively low certified stocks, had contributed to the bearish mood in the market.

The spot March contract, which expires next week, was trading at a discount to May of around 25 pounds.

Dealers said the large discount was likely to encourage someone to take delivery of cocoa against March.

"We should see the certs (certified stocks) switch hands," one broker said.

May cocoa on ICE was off $8 or 0.4 percent at $2,051 per tonne after dipping to $2,045, the lowest level for the second month since June 2012.

LEAF RUST OUTBREAK

Arabica coffee futures on ICE were marginally lower with the market remaining on the defensive after a steep fall of around four percent on Tuesday.

ICE May arabica coffee was off 0.15 cents or 0.1 percent at $1.41 per lb, with the market heading back down towards a 32-month low of $1.3760 hit on Feb. 19.

Dealers said a favourable crop outlook in top producer Brazil had added to the bearish mood in a market which already appears oversupplied despite ongoing concerns about a severe outbreak of roya, or leaf rust in Central America and Mexico.

"There is a lot of supply around so I would expect the (downward) pressure to persist and prices could even fall below current values," F.O. Licht analyst Stefan Uhlenbrock said.

Uhlenbrock said the prospect of a possibly record "off-year" crop in Brazil this year should ensure adequate supplies.

"There is not a real threat that these problems in Central America will strain global coffee supply significantly," he said.

New York May coffee may keep falling to $1.3775 per lb, as indicted by its wave pattern and a Fibonacci projection analysis, according to Reuters market analyst Wang Tao.

May robusta coffee futures on Liffe eased $3 or 0.14 percent to $2,087 a tonne.

Raw sugar futures on ICE were little changed with May up a marginal 0.02 cent or 0.1 percent at 18.21 cents a lb.

Dealers said the market was slowly regaining ground after the front month slid last week to 17.61 cents, the lowest level since August 2010.

"There is no reason why the market should climb to significantly higher levels because there is so much sugar around and Brazil is also poised to producer a bigger crop in 2013/14," Uhlenbrock said.

May white sugar on Liffe was up $0.20 or 0.04 percent to $516.90 a tonne.

(Reporting by Nigel Hunt; editing by William Hardy)