NY Coffee, Sugar Futures Rise 4%

Coffee futures closed Tuesday up 6.80 at 174.90, up over 4 percent. Brazilian Coffee producing areas had below average rainfall for December and that helped lift prices Tuesday. Sugar futures closed up 0.61 at 14.87 a rise of more than 4 percent for the beleaguered Sugar that traded at contract lows just this week. Sugar ignored the weak energy markets on Tuesday. Market talk of dry weather for parts of Brazil and general buying helped lift prices. In other New York Soft Commodities trading was weak: March Cotton traded near the lows of the session at the close, 0.60 lower at 60.11. March Orange Juice was lower at 142.10, down 4.35. Cold weather fears in the Southern U.S. dissipated a bit. March Cocoa closed down 47 at 2897, as worry over economic growth weighed on Cocoa futures.