Raw sugar futures settled up and near a three-year top on Monday as the sweetener defied weak outside markets and was bolstered by expected offtake from Asian countries led by India, brokers said. The July raw sugar contract gained 0.34 cent to conclude at 15.61 cents per lb.
Based on the spot daily closing charts, it was the highest finish for sugar since July 2006. The contract traded from 15.06 to 15.61 cents. Volume traded in the July contract reached 56,868 lots at 2:04 pm EDT (1804 GMT). October sugar rose 0.31 cent to end at 16.13 cents. Volume traded Friday in the No 11 sugar market was 85,982 lots, from the prior 98,106 lots - the exchange said. Open interest in the No 11 sugar market was at 678,312 lots as of May 8, from the prior 684,463 contracts - exchange data.
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