(Recasts throughout, updates prices, comment; adds NEW YORK to dateline) NEW YORK/LONDON, Nov 9 (Reuters) – Arabica coffee futures on ICE fell on Friday, ending the week more than 5 percent lower, pressured by position rolling and a firmer U.S. dollar, while raw sugar lost 5.3 percent on the week.
* March arabica coffee settled down 2.7 cents, or 2.25 percent, at $1.1750 per lb. On the week, the contract lost 5.1 percent.
* Prices were pressured by the roll out of December contracts into March, dealers said. “We are finding support right now around the $1.1750 area,” said Boyd Cruel, senior market strategist at High Ridge Futures. That level, for the March contract, represents a 38.2 percent Fibonacci retracement from the September low and October high.
* Prices were pressured by a stronger U.S. dollar as the U.S. Federal Reserve kept interest rates steady and reaffirmed its monetary tightening stance.
* January robusta coffee settled up $1, or 0.1 percent, at $1,685 per tonne.
* Dealers noted the physical market could see some short-term tightness before large shipments from Vietnam – which is in the midst of its main harvest – begin.
* The U.S. Department of Agriculture attache in Brazil revised the 2018-19 coffee production forecast to 63.4 million bags
* The International Coffee Organization reduced its 2017-18 surplus to 1.59 million bags, from 2.58 million.
* March raw sugar settled down 0.11 cent, or 0.9 percent, at 12.73 cents per lb after setting a new four-week low of 12.65 cents.
* On the week, the contract lost 5.3 percent, its worst weekly performance since January.
* “People are starting to say that the sugar-ethanol mix in Brazil is going to be a little higher next year toward sugar,” said one U.S. trader.
* “Gasoline is down over 50 cents from its high last month. So, as gasoline gets cheaper in Brazil,” the ethanol economics might shift, the trader added.
* Technicals weakened in the prior session when prices closed below 13 cents, dealers said.
* December white sugar settled up $1.60, or 0.5 percent, at $344.10 a tonne. The contract lost 4 percent this week, its third straight negative weekly finish.
* March New York cocoa settled down $5, or 0.2 percent, at $2,287 per tonne.
* The contract settled the week down 0.6 percent, its first negative finish in five.
* The market was consolidating following a 4.5 percent plunge on Thursday. On Wednesday, the market hit a 3-1/2-month high but failed to find follow-through buying, dealers said.
* March London cocoa settled down 1 pound, or 0.06 percent, at 1,670 pounds per tonne.
(Reporting by Ayenat Mersie in New York and Ana Ionova in London; editing by Emelia Sithole-Matarise, Jane Merriman and Cynthia Osterman)