LONDON, Nov 9 (Reuters) - ICE sugar and coffee futures fell
on Monday on profit taking, reversing earlier gains on news of
Joe Biden's election as president of the United States and
promising developments from Pfizer's COVID-19 vaccine
* March raw sugar fell 0.13 cents, or 0.8%, to 14.80
cents per lb, having hit an eight-month high of 15.23 cents last
* The dollar was weak against a currency basket, making
dollar-priced commodities like sugar cheaper for non-U.S.
* Dealers said rumours that this season's sugar export
subsidies from India, a top producer, would be less than half of
last season's were also underpinning sugar.
* Elsewhere, concerns persist the sugar market will grow
tight at least until top producer Brazil starts to harvest its
new crop next year.
* Speculators cut their net long position in ICE raw sugar
by 19,952 contracts to 191,382 contracts in the week to Nov. 3.
* December white sugar, which expires on Friday, was
down $2.3, or 0.6%, at $397.80 a tonne.
* December arabica coffee edged up 0.1 cents, or
0.1%, to $1.0695 per lb.
* Arabica has gained some support from concerns recent dry
weather could contribute to a significant production decline in
top grower Brazil next year.
* One dealer said the dollar weakness expected following
Biden's win, plus a recovery in demand as coronavirus cases
recede, should lift coffee prices longer term.
* January robusta coffee slipped $2, or 0.2%, to
$1,347 a tonne, having hit its highest since late September.
* March New York cocoa rose $62, or 2.7%, to $2,400 a
tonne, having hit its highest in 1-1/2 weeks earlier.
* Cocoa arrivals at ports in top grower Ivory Coast reached
485,000 tonnes between Oct. 1 and Nov. 8, up 8% from the same
period last season.
* Cocoa prices have been bolstered by some disruptions to
the flow of supplies in Ivory Coast after a disputed
presidential election, with opposition leader Pascal Affi
N'Guessan under arrest for creating a rival government.
* March London cocoa rose 33 pounds, or 2.1%,
to 1,644 pounds per tonne.
(Reporting by Maytaal Angel; Editing by Mark Potter and Jan