Raw sugar futures rallied late to close Monday at a 6-1/2 month high, but arabica coffee and cocoa futures lost ground in the market. The October raw sugar contract went up 0.61 cent to finish at 23.34 cents per lb. It was the loftiest settlement close for the spot contract since late February.
It was the best three-day performance for raw sugar since December as it gained 9.17 percent over that period. Total raw sugar volume at 148,039 lots, up on the 30-day average at 104,692 lots, Thomson Reuters preliminary data showed.
December arabica coffee futures shed 0.65 cent to finish at $1.8915 a lb. Market traded from $1.882 to $1.927. Market fails to hold $1.90, succumbing to modest investor sales. Benchmark December cocoa lost $37 to settle at $2,610 per tonne. It was the lowest close for the second position cocoa contract since July 2009. Contraded traded from $2,595 to $2,650. Cocoa down for a fifth straight day, hitting its lowest level in 14 months.