Raw sugar futures on ICE Futures US at 7:40 am EST (1240 GMT). March raw sugar slipped 0.10 cent to 27.16 cents per lb. Ranging from 26.78 to 27.49 cents, a new contract top and the highest level for sugar's spot contract in 29 years. Volume in March contract a light 3,499 lots.
Modest buying by investors propel sugar to highest mark since 1981, but business thin ahead of New Year holiday break - dealers. Market rally sparked by excess rains which harmed output in top producer Brazil combined with large imports by No 1 consumer India after a poor monsoon hit its cane crop.
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