US MIDDAY: sugar soars

Sugar prices surged 4.9 percent to 3-1/2 month highs early on Tuesday, on lower-than-expected crush data in top grower Brazil, while arabica coffee prices vaulted after a minor Brazilian coffee region was hit by frost. Cocoa settled up a shade in quiet trade.
ICE October raw sugar futures were up 1.29 cents, or 5 percent, at 27.20 cents a lb at 12:17 pm EDT, after peaking at 27.23 cents a lb, its highest level since March 10 and its biggest daily surge since January 7. ICE September arabica coffee jumped 7.30 cents, or 2.9 percent, to $2.5835 per lb. September cocoa on ICE closed up $23 at $3,023 a tonne.