LONDON: Cocoa futures were higher on Thursday with the market buoyed by technically-driven fund buying while a pick-up in producer selling weakened robusta coffee prices.
COCOA
July New York cocoa was up $16, or 0.6 percent, at $2,816 a tonne at 1122 GMT. The second position rose to a peak of $2,856 on Wednesday, the highest since September 2016.
Dealers said fund buying remained the key driving force behind the market's advance.
The market was awaiting first quarter North American grind data, due to be released later on Thursday, with trader estimates ranging from 1.5 percent lower to 2 percent higher.
First quarter grind data from Europe and Ivory Coast, released on Wednesday, showed year-on-year increases while Asia grind data is due to be issued on Friday.
July London cocoa was up 8 pound, or 0.4 percent, at 1,882 pounds a tonne.
COFFEE
July arabica coffee was up 0.20 cent, or 0.2 percent, at $1.1695 per lb. The second month dipped to a low of $1.1530 on Tuesday, its weakest since March 2016.
Dealers said favourable weather in top grower Brazil continued to keep a lid on prices with a record harvest widely expected this year.
July robusta coffee was down $10 at $1,762 a tonne, retreating from a two-week high of $1,774 set on Wednesday as a pick-up in producer selling stalled the advance.
An increase in London (robusta) prices prompted Vietnamese farmers to sell more coffee, while Indonesia's premiums stayed flat during a mini harvest season on solid domestic demand, traders said on Thursday.
SUGAR
May raw sugar was unchanged at 11.74 cents per lb. The front month fell to a 2-1/2 year low of 11.60 cents on Wednesday with the market weighed by excess supplies.
August white sugar rose $0.60, or 0.2 percent, to $341.70 per tonne.
Uganda expects sugar production to rise 17 percent this year to 428,000 tonnes, helped by improved rainfall that is likely to boost cane output, an industry official said on Thursday.
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