London benchmark March white sugar futures closed up 1.7 percent on fund, speculator and trade buying on Monday, dealers said. March settled up $5.30 at $310.30 per tonne in volume of 5,373 lots, having moved from $304.5 to $312.
May concluded up $4.40 or 1.4 percent at $316.90 per tonne in volume of 659 lots, after trading from $312 to $317.10.
"Specs and funds are buying. It is a technical move," one trader said. "Some stops were triggered."
Another said: "The key stops (in March) were around $306.00 and $310.00. The funds are buying massively, and producers are selling. But beware - this market goes rapidly up, then rapidly down again."
Russian prosecutors said on Monday they were investigating the disappearance of 185,664 tonnes of raw sugar - equivalent to around four cargoes - imported by commodity trader Louis Dreyfus.
Dubai's Al Khaleej sugar refinery has cut its throughput by 20 percent because of a fall in the white sugar premium, its chairman Jamal Al Ghurair said on Monday.
Egypt plans to sell off an 87.9 percent stake in state-run Delta Sugar Co in January after receiving offers in an initial public offering (IPO) by December 31, government and company officials said on Monday.
COFFEE STEADIES:
London's robusta coffee market finished barely higher on Monday, trimming its gains after losses by New York arabica, dealers said.
Liffe's benchmark January contract closed $4 firmer at $1,059 a tonne.
The most-active position traded 3,582 lots in a $1,053-1,071 price bracket. Total turnover was 5,750 after another 1,587 lots traded on March, which ended $3 stronger at $1,077.
"Robusta remains firm but was checked by New York's swift tumble," one trader said, adding that lack of origin pressure was also holding the Liffe market up.
A smaller harvest in Vietnam this year has reduced supply from the world's top robusta grower. Producers have been holding back in the hope industry will pay more.
The New York Board of Trade's bellwether March arabica contract lost 1.30 cents to $1.00 cents a lb after its first day of activity since Wednesday.
COCOA FIRMS:
London cocoa futures finished steady on Monday with trade centred on market structure for a third straight session, dealers said.
Liffe's second-month March concluded at 860 pounds a tonne, three pounds higher, after volume of 7,535 lots between 851 and 876. Total volume was 14,166 lots.
Cocoa is up about 30 pounds so far this month after a spate of short covering by funds, but some dealers expect West African hedging to erase gains in the coming weeks.
"Short term we should get more origin pressure," one trader said.
Front-month December closed unchanged at 845 after moving 4,983 lots in an 838-861 range.
Spread trading on December-March and trade Against Actuals made up much of the volume.