March raw sugar contract up 0.35 cent to 29.46 cents per lb at 10:54 am. Trading range from 29.08 to 29.82 cents, the highest for the spot contract since January 1981. Sugar sprang to a fresh 29-year peak, but profit-taking knocked the market back from its highs. Bull trend intact, though, and a challenge of the landmark 30-cent level is in the cards, said dealers.
Benchmark March cocoa contract climbed $32 to $3,454 per tonne at 10:55 am, the highest since December 17. Trading range from $3,411 to $3,485. US cocoa futures inched closer to a 31-year high on chart-based strength and support from the strong London cocoa market, said traders.