Raw sugar gains on bullish technical signals; cocoa also gains

Raw sugar futures on the ICE exchange rose on Friday, heading for a 1% weekly gain on bullish technical trade signals, while cocoa also climbed.

SUGAR

* Raw sugar SB1! was up 1.8% at 15.12 cents per lb by 1134 GMT.

* 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 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 said its next-generation obesity drug helped patients to lose an average of 28.7% of their weight.

* White sugar SF1! rose 1.1% to $429 a metric ton.

COCOA

* New York cocoa CC2! gained 1.1% to $6,358 a ton, after hitting a five-week high of $6,475.

* 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 C2! jumped 2.1% to 4,584 pounds a ton after setting a five-week high of 4,625 pounds.

COFFEE

* Robusta coffee RC2! was down 0.6% at $4,083 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.

* Arabica coffee KC2! was little changed at $3.7615 per lb.