SOFTS-Arabica coffee hits 4-month high amid dry Brazil weather

LONDON, Sept 8 (Reuters) - Arabica coffee futures on ICE steadied on Tuesday after hitting four-month highs amid dry weather in top grower Brazil, while cocoa rallied after hitting 1-1/2 month lows.

COFFEE

* Arabica coffee KCc2 slipped 0.3% to $3.8385 per lb at 1515 GMT, having hit its highest since early May at $3.89300.

* Forecaster Vaisala said there will be dry conditions in Brazil over the next 10 days and that "unfavourable soil moisture and minimal rains will not support flowering."

* Dealers said President Donald Trump's 50% tariff on imports from Brazil, weather concerns, an acute shortage of shipping containers and fund flows into soft commodities are all boosting arabica.

* Prices could correct sharply lower, however, if the U.S. Supreme Court upholds last month's federal appeals court ruling that Trump overstepped his authority in enacting sweeping tariffs.

* Robusta coffee LRCc2 fell 1.3% to $4,379 a ton, having hit its lowest since August 20 on Monday.

* Dealers said coffee flows out of Indonesia have increased sharply, while the drawdown in ICE robusta stocks has started to abate.

COCOA

* London cocoa LCCc2 rose 1.5% to $5,109 a metric ton, having ​​hit its lowest since July 21 at $4,980.

* Cocoa is under pressure as demand is weak amid historically high prices, while a surplus is expected next season.

* Dealers noted, however, there are reports that pod counts in top growers Ivory Coast and Ghana are below the 10-year average.

* They added that some experts also assess black pod disease levels in Ivory Coast are above average.

* Elsewhere, President Trump signed an order late last week offering some tariff exemptions to countries that strike trade deals with the U.S. The exemptions cover items that "cannot be grown, mined, or naturally produced in the United States".

* Dealers said the market is waiting to see if exemptions will spur U.S. demand for cocoa and cocoa products from key processors Indonesia and Malaysia, which clinched trade deals with the U.S. in July.

* New York cocoa CCc2 rose 2.2% to $7,393 a ton, having hit its lowest since July 21 at $7,167.

SUGAR

* Raw sugar SBc1 ​​rose 1.2% to 15.81 cents per lb, having hit a two-month low of 15.38 on Monday.

* White sugar LSUc1 rose 0.4% to $481.50 a ton.