NY sugar ends at 4-week low, coffee and cocoa also drop

Aug 2 (Reuters) - Raw sugar futures dropped more than 2 percent to close at a four-week low on Thursday on late fund sales as investors were disappointed by the lack of an announcement from the European Central Bank on measures to fight the euro zone debt crisis.

Arabica coffee and U.S. cocoa futures also posted lower settlements.

RAW SUGAR

* Benchmark October raw sugar futures sank 0.52 cent, or 2.3 percent, to settle at 22.04 cents a lb, their lowest settlement in four weeks.

* Market pressured by dreary macro outlook - brokers.

* Losses trimmed by a weak monsoon in India.

* Business slowed by summer doldrums - analysts.

* "Market is hog tied between 22 and 24 cents," a dealer said, referring to October raw sugar contract.

ARABICA COFFEE

* September arabica futures dropped 2.95 cents, or 1.7 percent to finish at $1.7165 per lb.

* The benchmark contract remained nestled between its 100-day and 60-day moving averages in sideways dealings.

* The market was pressured by the tumbling commodity complex and strong U.S. dollar - traders.

* Losses were limited on improved harvest weather in Brazil - traders.

* ICE certified arabica coffee stocks jumped by 9 percent to a 21-month high in July, after differentials on the physical market eased and farmers primarily in Honduras and Mexico sold their current-crop beans due to weakening demand - U.S. importers.

COCOA

* Benchmark September cocoa futures dropped $32, or 1.3 percent, to finish at $2,369 a tonne.

* Market gave back all of the gains posted on Wednesday when it closed at a 4-1/2-month high.

* Key September contract closed above the 200-day moving average for the fourth straight day, helping the chart to remain strong despite the weak settlement - traders.

* The contract closed weak for the first time in seven sessions.

* The market followed the weak commodity complex and lower sterling against the U.S. dollar - traders.

* "The cocoa market, I believe, is fundamentally turning bullish. I suspect the El Nino fears are legitimate. We'll see how the weather plays out." - Jack Scoville, analyst for brokers The Price Group in Chicago.

2:06 PM      SETTLE    NET     PCT      LOW    HIGH  CURRENT
                       CHNG    CHNG                       VOL
 Sugar OCT     22.04  -0.61   -2.7%    21.95   22.56   40,581
 Sugar MAR     22.48  -0.51   -2.2%    22.41   22.92   15,655
 Cocoa SEP      2369    -36   -1.5%    2,357   2,404   15,450
 Cocoa DEC      2383    -33   -1.4%    2,372   2,413    8,823
 Coffee SEP   171.65     -3   -1.7%   171.25  175.35   13,876
 Coffee DEC    174.3     -3   -1.7%   174.00  177.95    9,854
 
 TOTAL MARKET              VOLUME          
                CURRENT   30D AVG  250D AVG
 ICE SUGAR       68,857   113,270    96,258
 ICE COCOA       28,157    20,872    21,640
 ICE COFFEE      27,092    22,419    22,035

(Reporting by Marcy Nicholson and Rene Pastor in New York)

Source: http://www.reuters.com/article/2012/08/02/markets-softs-close-idUSL2E8J2CF620120802