ICE raw sugar futures climbed to a nine-month high on Wednesday, supported by fund short covering and tightening supplies, while London cocoa prices eased as the pound strengthened.
March raw sugar was up 0.08 cents, or 0.6%, at 12.94 cents per lb at 1450 GMT after rising to a nine-month high of 13.03 cents.
Dealers said funds were continuing to scale back a net short position with supportive factors including a rise in crude oil prices on Wednesday.
The market has also been buoyed by tightening supplies, with a global deficit widely forecast for the current 2019/20 season and some early indications there could be another deficit in the 2020/21 season.
Dealers said, however, there was stiff resistance around 13 cents with a potential pick-up in producer selling.
"The pressure from producers, who continue to sell on the futures market to hedge their next production, remains strong, particularly in Brazil," analyst Agritel said in a market note.
March white sugar fell $0.10, or 0.03%, to $344.50 a tonne.
March London cocoa fell 11 pounds, or 0.6%, to 1,850 pounds a tonne, weighed by a stronger pound.
March New York cocoa was unchanged at $2,565 a tonne.
New York March cocoa may break a resistance at $2,575 per tonne and rise to $2,599, as suggested by its wave pattern and a projection analysis, Reuters market analyst Wang Tao said on Wednesday.
March arabica coffee rose 0.5 cents, or 0.4%, to $1.2430 per lb. The benchmark second month rose to a peak of $1.2475 on Tuesday, its highest in more than one year.
Dealers said the market was supported by tightness in supplies of washed arabica with certified exchange stocks continuing to fall.
They noted sales of Central American coffee had picked up after a very slow start to the coffee year in October but the faster pace may not last long.
"Sales have recovered due to good prices but we are not certain whether the pace is sustainable," Rabobank said in a market note.
The International Coffee Organization in a report on Wednesday maintained its forecast for a global coffee deficit of 502,000 60-kg bags in the 2019/20 season.
Funds have also largely covered a net short position during the recent sharp advance in prices.
March robusta coffee fell $21, or 1.5%, to $1,391 per tonne.
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