SOFTS-Raw sugar gains on bullish technical signals; robusta coffee slides
LONDON, Dec 12 (Reuters) - Raw sugar futures on the ICE exchange hit two-week highs on Friday on bullish technical trade signals, while robusta coffee touched its lowest in nearly four months.
SUGAR
Raw sugar SBc1 was up 0.9% at 14.98 cents per lb at 1543 GMT, having hit a two-week high of 15.27.
The contract has been creeping higher since hitting a five-year low of 14.04 cents/lb in November.
Broker ADM ISI said technical trade signals show sugar is vulnerable to a short-covering rally in the near term as it approaches 15.05 cents/lb.
Longer term, however, analysts are making upward revisions to surplus expectations for this season, with supplies set to grow and bearish demand signals prevailing.
One of incoming Coca-Cola KO.N CEO Henrique Braun's challenges will be to accelerate the move to low sugar and functional beverages such as probiotic sodas, analysts said.
Elsewhere, Eli Lilly LLY.N said its next-generation obesity drug helped patients to lose an average of 28.7% of their weight.
White sugar LSUc1 rose 0.2% to $425.10 a metric ton.
COFFEE
Robusta coffee LRCc2 was down 2.2% at $4,015 a ton, not far from the 2-1/2 month low of $4,046 set on Wednesday.
The harvest in top robusta producer Vietnam is slowly picking up after delays caused by storms and floods, while the market continues to expect this season's output to rise by about 10%, dealers said.
Arabica coffee KCc2 fell 1.6% to $3.7030 per lb.
COCOA
New York cocoa CCc2 slipped 0.3% to $6,271 a ton, after hitting a five-week high of $6,475 on Thursday.
Cocoa continues to gain on the back of speculative buying linked partly to its inclusion in the Bloomberg Commodity Index (BCOM) from 2026.
The potential for a slowdown in port arrivals in Ivory Coast during the first quarter of 2026 could also support prices, dealers said.
London cocoa LCCc2 jumped 0.8% to 4,526 pounds a ton after setting a five-week high of 4,625 pounds on Thursday.
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