US cocoa futures consolidated and settled higher on Wednesday as the conflict in top grower Ivory Coast was not resolved as quickly as anticipated. The benchmark May raw sugar contract dropped 0.84 cent or 3 percent to finish at 26.71 cents per lb. May arabica coffee futures fell 3.10 cents or 1.2 percent to close at $2.6515 per lb. Key July cocoa futures gained $21 to finish at $3,014 a tonne.