LONDON: Raw sugar futures rose on Monday, lifted by more supportive technicals, while cocoa slipped as ample supplies weighed and arabica coffee slumped to a fresh low.
SUGAR
October raw sugar was up 0.14 cent, or 1.04 percent, at 13.55 cents per lb by 1355 GMT, having climbed to a session high of 13.65 cents.
The market closed higher on Friday, recovering much of the ground lost earlier in the week when prices sank to a seven-week low.
Market participants were monitoring rains in Brazil, which are expected to benefit cane development but could disrupt harvesting in the short term.
"The market is beginning to take note after a long period of no weather risk in prices," said Nick Penney, senior trader at Sucden Financial.
Dealers said exchange data, which signalled funds may be running out of room for further large-scale short-selling, also lent support.
The market was also awaiting cane crush data from UNICA, due out later this week, which is expected to give indication whether low sugar prices have persuaded mills to switch more of their output to ethanol.
"The question is how quickly mills react to the strong ethanol price, and whether they kill the golden goose," said commodity analyst Green Pool in a report.
October white sugar rose $2.70, or 0.73 percent, to $373.30 a tonne.
COCOA
December New York cocoa fell $27, or 1.44 percent, to $1,851 a tonne, hovering just above a one-month low touched last week.
December London cocoa fell 22 pounds, or 1.47 percent, to 1,474 pounds a tonne.
Prices jumped back on Friday but dealers said the market was still plagued by a looming surplus, recently reinforced by crop-friendly weather in top grower Ivory Coast.
The market was also monitoring traded volumes for signs whether speculators will extend their bearish stance further.
"The fundamental picture on the supply side still looks very, very healthy," said one dealer. "And there is potential fear that the specs may indeed dive back in on the short side."
COFFEE
December arabica coffee fell 1.55 cents, or 1.18 percent, to $1.3015 per lb having hit $1.3010, its weakest since July 13, as fund selling continued.
November robusta coffee rose $12, or 0.57 percent, to $2,113 per tonne.
Prices rose 2.3 percent on Friday, boosted by arbitrage activity as funds bought robusta and sold arabica.
The positive close strengthening technicals and inspired some follow-through buying on Monday, dealers said.
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