Raw sugar futures rose more than 3 percent on Thursday on news of rains in Brazil and possible delays in its centre-south cane harvest. Cocoa and coffee futures stumbled in mostly modest dealings, dealers said. The benchmark May raw sugar contract rose 0.87 cent, or 3.3 percent, to finish at 27.45 cents per lb.
Analysts said that news of rains in Brazil and worries it could hinder the harvest of the centre-south cane crop gave the sweetener a boost. The volume of business was close to 85,000 lots, slightly over a quarter of the 30-day norm, Thomson Reuters preliminary data showed. May arabica coffee futures dropped 2.80 cents to settle at $2.658 per lb.
Market fell for third straight day due to investor sales. The May contract failed to get close to a 10-day and 20-day moving average around $2.70 and $2.73, according to Thomson Reuters preliminary data. Key May cocoa futures fell $48 to settle at $3,203 per tonne.
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