Raw sugar futures on ICE rallied on Monday, hitting their highest in a week and a half as funds covered their record net short positions and oil prices soared after a major attack on Saudi Arabian oil facilities. Cocoa prices hit 1-1/2 month highs.

 

October raw sugar was up 0.22 cents, at 11.11 cents per lb by 1050 GMT, having earlier hit a 1-1/2 week high of 11.19.

 

October white sugar was up $5.80,at $326.41 per tonne.

 

December New York cocoa was up $10, at $2,347 a tonne, having hit $2,350, its highest level in a month and a half.

 

December London cocoa rose £16 pounds, to £1,806 pounds a tonne, having hit a 1-1/2 month high of 1,814 pounds.