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SOFTS-Coffee prices plunge to historic lows, sugar inches up

(Updates prices, adds details) NEW YORK/LONDON, May 7 (Reuters) - Robusta coffee prices on ICE crashed to a nine-year low on Tuesday while arabica coffee struck a 13-year low as the Brazilian harvest loomed over an already-oversupplied market, while raw sugar prices inched up.


* July robusta coffee settled down $50, or 3.7%, at $1,295 per tonne, after falling to an April 2010 low of $1,282.

* "The arrival of the Brazilian conilon crop put weight on" the market, said Rodrigo Costa, director of trading at Comexim USA. "The funds still have room to sell more... and there is no rush for buyers to step in. The (Brazilian) real getting weaker doesn't help either."

* The harvest of conilon, the robusta variety grown in Brazil, is under way while the arabica harvest in the country will pick up in pace in the coming weeks. Production for both is expected to be strong, exacerbating existing concerns about oversupply.

* The Brazilian real, meanwhile, softened to its weakest level against the U.S. dollar in nearly a week, which can encourage selling of dollar-denominated commodities such as coffee.

* July arabica coffee settled down 2.15 cent, or 2.4%, at 88 cents per lb after dropping to a 13-1/2-year low of 87.60 cents. "I think what is really troublesome is that we still do not see anything that could provoke a change" to low prices, Costa said.


* July raw sugar settled up 0.07 cent, or 0.6%, at 11.95 cents per lb.

* The contract recouped some of the losses from the previous session, when it fell to 11.84. Concerns about plentiful supplies, especially out of India, have weighed on the market of late.

* Prices were buoyed by short-covering, dealers said.

* Total open interest rose for the sixth straight session to reach 951,987 lots on Monday, ICE data show, the highest since early September.

* Brazil is expected to produce a smaller cane crop in 2019/20 than in the previous season, but sugar output is set to rise, government agency Conab said.

* ICE August white sugar settled up $0.9, or 0.3%, at $328.30 per tonne.


* July New York cocoa settled down $39, or 1.7%, at $2,301 per tonne, after falling to an April 26 low of $2,286.

* July London cocoa settled down 29 pounds, or 1.6%, at 1,736 pounds per tonne, after touching 1,721, also an April 26 low.

* While global demand is robust, as indicated by strong first-quarter grindings, supplies remain plentiful with arrivals of cocoa at ports of top grower Ivory Coast running about 14% above last year's levels.

(Reporting by Ayenat Mersie in New York and Maytaal Angel in London Editing by David Goodman and Andrea Ricci)