Sugar reversed losses early on Wednesday, hemmed in by concerns over Brazil's crop and prospects for increased output in a number of producers, while coffee futures slipped, as fears of a US debt default weighed on markets. ICE cocoa futures were also lower as ample West African supplies dragged on prices. Many commodities felt pressure as investors shed riskier assets and sought safety on growing fears of a possible US debt default.
ICE raw sugar reversed early losses, and hovered below October's contract high of 31.68 cents a lb touched on Monday, underpinned by uncertainty over top producer Brazil's crop size due to a mix of weather factors and aging cane. October raw sugar futures on ICE were up 0.36 cents or 1.2 percent at 31.30 cents a lb at 1428 GMT. September arabica coffee on ICE fell 5.0 cent or 2.04 percent to $2.3995 per lb. September cocoa on ICE fell $12 or 0.4 percent to $3,003 a tonne. Total volume neared 23,000 lots by 1 pm EDT (1700 GMT), up 60 percent of its 30-day average.