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RTRS:NY sugar and coffee modestly higher, cocoa slips
 
(Reuters) - Raw sugar and arabica coffee climbed Thursday on short-covering in both markets while cocoa lost ground in light early business.

For news on other financial markets, please click on:

] 7:36 AM LAST NET PCT LOW HIGH CURRENT

TRADE CHNG CHNG VOL Sugar MAY 24.84 0.4 1.6% 24.34 24.89 11,259 Sugar JUL 23.84 0.36 1.5% 23.38 23.87 8,780 Cocoa MAY 2,248 -66 -2.9% 2,239 2,310 3,537 Coffee MAY 183.90 0.3 0.2% 182.55 184.10 430 TOTAL MARKET VOLUME

CURRENT 30D AVG 250D AVG ICE SUGAR 29,342 113,650 88,516 ICE COCOA 6,127 23,774 19,013 ICE COFFEE 711 24,502 19,769

* Raw sugar futures for May rose 0.40 cent to 24.84 cents a lb in volume of 11,259 lots, trading in a range of 24.34 to 24.89. July rose 0.36 cent to 23.84 cents a lb.

* Cocoa futures for May fell $66 to $2,248 a tonne.

* Arabica coffee futures for May rose 0.30 cent to $1.8390 a lb.

MARKET NEWS

* Thomson Reuters technician Wang Tao's outlook for New York soft commodities: Arabica coffee is seen dropping further towards $1.7425/lb, and cocoa has turned neutral.

* For more details in the daily softs market report, please click on:

FUNDAMENTALS

* Brazil's 2012/13 coffee harvest should turn out between 52 and 54 million bags, about 15 percent below potential due to drought early in its development.

* Shipments of sugar should flow smoothly from top producer Brazil this year with long-range forecasts pointing to a dry winter, cutting the risk of disruption that sent prices soaring two seasons ago.

* Cocoa farmgate prices in Ivory Coast's main growing regions fell last week as few buyers remained to bid for the dregs of the main crop.

ECONOMY

* U.S. weekly jobless claims at 0830 EDT (1230 GMT) seen at 356,000, against 362,000 the week before.

* The U.S. February producer price index at 0830 EDT is seen up 0.5 percent, and 0.2 percent minus food and energy, compared to the previous 0.1 percent and 0.4 percent increases.

MARKETS

* European shares traded near eight-month highs on a brighter global economic outlook, greater risk appetite, a strong dollar and rotation out of government debt.

* Crude steadied after falling the previous session, as a firm dollar and bulging U.S. crude stocks trumped concerns about tensions between Iran and the West.

* Gold regained some strength after a drop the previous session attracted bargain hunters. (Reporting by Rene Pastor; Editing by)
Source