SOFTS-Cocoa soars on Ivory Coast crop worries, technical buying

LONDON, Aug 11 (Reuters) - Cocoa futures traded on ICE soared on Monday as trader buying on Ivory Coast crop concerns caused a breach of technical trade levels, prompting funds to pile in.

COCOA

New York cocoa CCc2 rose 9.1% to $8,700 a metric ton at 1310 GMT, having gained 6% last week.

London cocoa LCCc2 ​​rose 8.3% to 5,865 pounds a metric ton, having gained 1% last week.

A dealer said the concerns over top producer Ivory Coast's upcoming crop are not new and the price reaction is exaggerated due to illiquid trading conditions.

"Industry bought on the open this morning in very illiquid conditions. That triggered systematic fund buying (which is) completely throwing New York out of wack," he said.

Arrivals of cocoa at ports in Ivory Coast were down 2% between Oct 1 and Aug 10 versus the same period a year ago, exporters estimated.

Another dealer said the disproportionate gains in New York versus London is likely due to uncertainty over U.S. tariff policy.

In news, global energy and commodities trader Hartree Partners is in talks to acquire French agro-industrial firm Touton, which trades nearly 10% of the world's cocoa, two sources with direct knowledge of the matter told Reuters.

The talks come as cocoa trading costs soar amid historically elevated prices, with cocoa trading on ICE still largely illiquid and volatile.

COFFEE

Arabica coffee futures KCc1 rose 1% to $3.0545 per lb, having hit a three-week high of $3.10.

Dealers said despite fears over falling temperatures, there was no frost in top producer Brazil at the weekend, and the weather is expected to moderate in the days ahead.

Elsewhere, the market remains frozen due to the "constant surprises and provocations coming out of Washington" as regards tariff policy, said broker and consultant Michael J Nugent.

"A strong argument can be made that a top is in place, but a bear market this is not. (Still) nobody wants to stick their neck out (and) the result is a market coiled in quiet frustration," he said.

Robusta coffee LRCc2 rose 0.5% to $3,528 a metric ton.

SUGAR

Raw sugar SBc1 ​​​​​rose 1.2% to 16.45 cents per lb, having gained 0.4% last week.

White sugar LSUc1 rose 0.5% to $473.50 a ton.