Cocoa futures climbed to close at the highest level in more than one-year high on Monday on concerns that an export ban in top grower Ivory Coast may be extended, while coffee ended at its highest in nearly 14 years on the heels of a wider commodities rally.
Raw sugar continued to retreat from 30-year peaks, as high prices weighed on physical demand. Benchmark May ICE cocoa futures rose $35 to settle at $3,406 per tonne, the highest settlement for the second-position contract since January 25, 2010.
New York's benchmark May arabicas jumped 6.75 cents, or 2.6 percent, to settle at $2.6170 per lb, the highest close for the second position since May 1997. The benchmark ICE May raw sugar contract fell 0.61 cent, or 2.1 percent, to finish at 28.78 cents per lb.
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