Raw sugar, arabica coffee close higher on fund buying

NEW YORK/LONDON, Nov 04 (Reuters): Raw sugar and arabica coffee futures on ICE settled higher recently as a more upbeat mood in commodity markets inspired fresh fund buying, and a weaker dollar supported for much of the session. New York cocoa prices gained.

March raw sugar settled up 0.25 cent, or 1.9 per cent, at 13.44 cents per lb., yet nearly 3 per cent lower for the week.

Prices increased on broader strength in commodities, dealers said.

This inspired renewed speculative buying, dealers said, with funds testing technical resistance levels.

December arabica coffee settled up 2.25 cents, or 1.9 per cent, at $1.2005 per lb., also supported by the weaker dollar and little changed from the week prior.

December New York cocoa settled up $3, or 0.13 per cent, to $2,267 a tonne, closing the week up 0.7 per cent.

Prices were negative for much of the session, then "more speculative buying entered near the close," said Jack Scoville, president of Price Futures Group.