Print Print edition: 2011-02-01

US MIDDAY: sugar slightly higher

Published Updated

US sugar futures finished slightly higher after tumbling earlier in the session. The March raw sugar contract inched up 0.03 cent to close at 33.97 cents per lb, rebounding 1.38 cents from the session low of 32.59 cents. Finished the month up 5.8 percent.
"It was not able to make a new high, therefore it attracted some liquidation initially and it found support." - Rodrigo Costa, vice president of Institutional Sales for Newedge USA. March failed to breach last month's 30-year high at 34.77 cents per lb after two attempts late last week, attracting profit-taking, although tight supplies continued to underpin - traders.