Investing.com - U.S. soft futures declined on Tuesday, with sugar prices falling to the lowest level since July as investors continued to focus on massive global supplies of the sweetener. On the ICE Futures U.S. Exchange, sugar futures for March delivery traded at USD0.1625 a pound, down 0.1%. Prices of the sweetener fell to a session low of USD0.1621 a pound earlier, the weakest level since July 25. The March contract settled little changed on Monday to end at USD0.1627 a pound. The International Sugar Organization raised its forecast for a global surplus of 4.7 million tonnes in the 2013-14 crop year that began on October 1, up from a previous estimate of 4.5 million tonnes. Meanwhile, Arabica coffee for March delivery traded at USD1.1405 a pound, down 1.3%. The March Arabica contract fell by as much as 1.45% earlier to hit a daily low of USD1.1393 a pound. The March contract rallied to USD1.1725 a pound on Monday, the highest since October 16, before trimming gains to settle at USD1.1530 a pound, up 0.04%. Coffee prices have been well-supported in recent sessions as investors closed out bets on lower prices, a move known as short-covering. Coffee prices have been under heavy selling pressure in recent months, as traders monitored improving crop prospects in Brazil and Colombia. Coffee prices slumped to USD1.0100 a pound on November 7, the lowest since October 19, 2006. Elsewhere, cotton futures for March delivery traded at USD0.8292 a pound, down 0.55%. Cotton prices traded in a range between USD0.8267 a pound and USD0.8333 a pound. The March contract rallied to USD0.8343 a pound on Monday, the highest since October 18, before settling at USD0.8338, up 0.19%.

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