White sugar hits 2-1/2 month high in holiday-thinned trade

White sugar futures on ICE hit 2-1/2-month highs on Monday in holiday-thinned trade with U.S. markets closed for Labor Day, while robusta coffee futures slipped further away from last week’s highest level in more than two months. Coffee remains supported overall, though, by the U.S. move to impose a 50% tariff on imports from top coffee grower Brazil, which has virtually halted bean trade between the two countries and prompted a raid on stocks. SUGAR * White sugar rose 2.1% to $502.80 a metric ton at 1124 GMT, having hit its highest since mid-May at $503.80. * White sugar speculators raised their net long position by 5,223 lots to 33,841 lots as of August 26, exchange data showed. * Dealers said the market remains focused on output from top sugar grower Brazil. * Brazil data last week showed that, while center-south sugar output rose 16% in the first half of August, total recoverable sugars (TRS) per kilogram remained below historic levels, so 55% of the cane went towards ...