Sugar hits eight-month high

Sugar futures sprang to an eight-month high for the third day running yesterday due to crop problems in leading grower Brazil and chart-based investment funds buying in the sweetener, analysts said.

The rest of the complex failed to match that surge as cocoa futures ended mixed and arabica coffee rose modestly, helped by a 2010 low for the US dollar. A weaker dollar tends to boost most commodities. Raw sugar surged to a new high of 28.36 cents per pound.