London white sugar futures closed little changed on Monday after a session dominated by trade buying and arbitrage, and traders said the market appeared well-supported.
Benchmark May settled up 60 cents or 0.13 percent to $457.10 per tonne in volume of 4,424 lots, after trading from $459.40 to $453.90.
August finished up $2.10 or 0.46 percent at $458.10 per tonne in volume of 5,834 lots, having moved from $459.00 to $452.50.
"There has been trade buying and premium activity," one trader said in the afternoon, noting a premium of $81 between the London May and New York May contracts and $79-80 between the London August and New York July contracts. Traders also referred to trade buying, possibly against a Pakistani tender.
COCOA DROPS:
London cocoa futures closed more than three percent lower on Monday on speculative and technically-led sales, traders said.
Benchmark July finished down 31 pounds at 888 pounds a tonne, after touching a session low of 887 pounds a tonne, its lowest level since March 14.
Front month May closed down 30 pounds at a near four-week low of 884 pounds a tonne.
COFFEE ENDS UP: Liffe robusta coffee futures closed higher on Monday after hitting one month highs earlier in the day on trade and speculative buying, dealers said.
"We've seen a move higher. People have been talking about the market moving higher for some time," a dealer said.
Front month May robusta ended up $23 at $1,159 a tonne, after hitting a high of $1,166 a tonne, a level it has not reached since March 9. July rose $23 to $1,172 a tonne. It also hit a one-month high earlier in the day of $1,179 a tonne.
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