Robusta futures charged up a 3-year peak Thursday as a shortage of deliverable supplies in the London coffee market stoked a rally which crossed the sea to New York arabica futures. New York's May arabica coffee contract rose 5.55 cents to close at $2.709 a lb.
Sugar futures barrelled higher as well, inspired by talk that cash buying has picked up especially since raws plunged from levels over 30 cents a lb to approach 25 cents. New York's May raw sugar contract on ICE Futures US rose 0.89 cent to finish at 26.74 cents per lb. New York's May cocoa contract rose $67 to finish at $3,282 per tonne.