Cocoa futures rose to their highest in more than a month early on Wednesday, boosted by doubts about supply in top grower Ivory Coast, technically-driven buying and strength in other commodity markets. Sugar also rose as the dollar weakened, while coffee dipped lower as funds considered selling long positions.
ICE cocoa prices advanced, with March up $46 at $3,082 a tonne after touching $3,112, the highest since December 7. One dealer said March's short-term upside target was around $3,140. ICE March arabicas fell 1.55 cents or 0.7 percent to $2.3380 per lb. ICE March raw sugar was up 0.34 cent or 1.1 percent at 31.46 cents a lb at 1528 GMT.