The coffee market rebounded and raw sugar rebounded from a six-week low.

The coffee market rebounded in 2003. The December Arabica coffee futures contract closed up 1.45 cents, or 0.9%, at $1.629 a pound. The price hovers slightly below the 2012 high it hit last week. In addition, the open position of the contract rose for the 18th day in a row, hitting a record high.

Traders noted that open contracts for Arabica coffee futures were rising, hitting a record high of 217273, according to exchange data, after net long positions held by speculators rose to an eight-and-a-half-year high.

Meanwhile, open contracts for robusta coffee fell, with robusta coffee closing up $6, or 0.3%, at $2164 a tonne in January.

In addition, ICE raw sugar futures rose sharply after hitting a six-week low on Wednesday, ending the decline in the past six days after raw sugar found support in its 100-day moving average.

March raw sugar futures closed up 0.51 cents, or 2.41%, at 21.7 cents per pound, falling to 21.08 cents, the lowest since Sept. 15.

"speculators and funds have closed long positions in the past few days, but the market has been technically supported at these levels," said a London trader. Raw sugar rebounded after hitting the 100-day moving average.

Traders said fund selling had led to a fall in the market in recent days, only moderately reducing the large number of long positions held by speculators, who still held large net long positions.

December sugar futures closed up $6.80, or 1.2%, at $574 a tonne.

In addition, new York cocoa closed up $5, or 0.2%, at $2632 a tonne in march. However, London cocoa closed down 3 pounds, or 0.1 per cent, at 2169 a tonne in March.

A few days ago, according to information provided by Credit Suisse analysts at an investment forum in Shenzhen, China's total domestic R & D spending in 2015 reached 2 million.

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