ICE sugar hits four-month high, coffee also rises

ICE sugar hit a four-month high on Thursday, anticipating further delays to shipments from top exporter Brazil, which would exacerbate nearby supply tightness. Coffee also rose, supported by chart-based buying, while cocoa was mostly steady. October raw sugar on ICE stood 0.23 cent or 1.2 percent higher at 19.10 cents at 1205 GMT after earlier peaking at 19.17 cents. October white sugar on Liffe climbed $5.50 or 1.0 per cent to $576.00 a tonne. September arabica coffee rose 1.20 cents or 0.7 per cent to $1.6860 per lb. New York arabica coffee is expected to rally towards $1.7650, as its wave pattern presents a very bullish outlook after two resistance levels were cleared, Reuters analyst Wang Tao said. September robustas on Liffe also stood $12 higher at $1,733 a tonne. September cocoa on ICE rose a marginal $1 to $3,011 a tonne while September cocoa on ICE fell £9 to £2,262 a tonne.