Raw sugar futures soared to close at a seven-month high for the second straight day on Monday, supported by worries over the impact of adverse weather on output in leading producers Brazil and India, and strong physical demand. Coffee and cocoa also climbed as fund buying buoyed the softs complex in light to modest volume.
ICE October raw sugar futures surged 0.65 cent or 2.6 percent to close at 26.09 US cents per lb, with most-active March up 0.58 cent to end at 24.98 cents, the highest settlement for the second position since February. ICE December arabica coffee futures rose 1.65 cents to close at $1.8225 per lb. ICE December cocoa gained $45 or 1.6 percent to settle at $2,839 per tonne, the highest settlement since August 19.
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