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RTRS:SOFTS-ICE coffee, sugar steady, cautious optimism over euro
 
LONDON Dec 7 (Reuters) - ICE coffee and sugar were steady in early trade on Wednesday and cocoa hovered above a 3-year low, buoyed by growing confidence that euro zone leaders are on track to produce a package of measures to solve the debt crisis at their Friday summit.

COFFEE

* Arabica coffee futures were slightly lower, with a softer dollar underpinning the commodities complex.

* March arabica coffee on ICE was down 0.4 cent or 0.2 percent at $2.3535 a lb at 0917 GMT.

* Coffee exports from India, the world's sixth-biggest producer, were expected to fall some 15 percent in 2011-12, Coffee Board Chairman Jawaid Akhtar said on Wednesday, because of rising consumption at home.

* Vietnam's 2011/2012 coffee crop would yield up to 1.25 million tonnes, or 20.83 million bags, rising 8.7 percent from the previous harvest, and farmers are expected to end the cherry picking process in January, a senior industry executive said.

* March robusta coffee on Liffe was up $10 or 0.5 percent at $2,054 a tonne.

SUGAR

* ICE raw sugar futures slipped, with fresh demand on the physical market helping provide some support, after the recent fall in prices helped stimulate offtake.

* La Nina, a weather phenomenon usually linked to heavy rains and flooding in the Asia-Pacific and South America and drought in Africa, has strengthened, Australia's weather bureau said on Wednesday.

* Raw sugar premiums for March-May delivery softened this week as crushing progressed in Thailand and India decided to sell more sweetener, but buying interest from China could help ease worries about rising supply, dealers said on Tuesday.

* Benchmark March futures traded down 0.03 cent or 0.1 percent at 24.15 cents a lb. The front month fell to 22.71 cents on Nov. 25, the lowest level since June.

* March white sugar futures on Liffe rose $2.60 or 0.4 percent to $628.00 per tonne. The contract slid to $594.00 on Nov. 29, the lowest level for the front month since May.

COCOA

* ICE cocoa futures were slightly firmer, with large West African crops capping upside potential in prices.


* March cocoa on ICE was up $12, or 0.6 percent, at $2,180 a tonne, having touched a three-year low of $2,161 on Tuesday.

MARKET NEWS

* Growing optimism that euro zone leaders are on track to produce a confidence-boosting package of measures to solve the debt crisis at their Friday summit lifted risk appetite on Wednesday, with the euro and global equity markets posting gains.

* U.S. Treasury Secretary Timothy Geithner meets French President Nicolas Sarkozy in Paris on Wednesday to press for decisive steps towards resolving Europe's deepening debt crisis as the region's leaders prepare for the summit. (Reporting by David Brough; editing by Jason Neely)
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