Raw sugar, coffee head further away from peaks, cocoa slides
Updates prices, adds details, recasts
LONDON, Sept 30 (Reuters) -Raw sugar and arabica coffee futures on ICE headed further away from recent peaks on Monday as drought fears ebbed somewhat in Brazil, the top producer of the two commodities.
Cocoa slid, meanwhile,in thinvolatile trade.
SUGAR
* October raw sugar SBc1, which expires later this session, fell 1.7% to 22.40 cents per lb at 1420 GMT, heading further away from last week's 7-month peak.
* According to Brazilian forecaster Climatempo, a cold front is expected to form from October 7 onwards, bringing rains to most of the centre-south of Brazil.
* Brazil is currently experiencing one of its worst droughts on record. Farmland fires have broken out in some sugar-producing regions as a result, while arabica is even more at risk as the crop is in the critical flowering phase
* Speculators ended their bearish bets in raw sugar futures in the week to Sept. 24, adding 36,182 lots for a total net long of 31,933, data showed.
* Analyst Green Pool cut its Brazil sugar forecast for this season to 39.1 million tonnes.
* December white sugar LSUc1 fell 1.5% to $567.50 a metric ton.
COFFEE
* December arabica coffee KCc1 fell 1.3% to $2.6560 per lb, heading further away from last week's 13-year high.
* Speculators trimmed their net long position in arabica coffee in the week to Sept. 24 by 1,982 lots to 41,649, data showed.
* November robusta coffee LRCc1 fell 0.5% to $5,174 a ton.
COCOA
* December New York cocoa CCc1 fell 5.1% to $7,859 a ton, having gained 8% last week.
* Favourable weather in top grower Ivory Coast is improving the main crop outlook and is helping keep a lid on cocoa prices, for now.
* Cocoa trade is extremely volatile also, due to very low open interest.
* Most of Ivory Coast's main cocoa regions receivedbelow-average rainfall last week but farmers said it was sufficient to boost development of the next October-to-March main crop.
* Broker JP Morgan hiked its price target for snack food giant Mondelez MDLZ.O, but noted the firm is cautious on cost of goods inflation next year as it believes even if cocoa prices drop, they will remain very inflated overall.
* March London cocoa LCCc2 fell 3% to 4,602 pounds per ton.
Reporting by Maytaal Angel; Editing by Vijay Kishore
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