Raw sugar futures climbed in early business on Tuesday on investment fund buying, and the market may retain its strong tone as more short-covering comes into the ring, brokers said. The ICE Futures electronic March sugar contract rose 0.15 cent to 10.27 cents per lb at 9:21 am EST (1421 GMT), moving from 10.12 to 10.30 cents.
"The funds and system buying poured in, now that we're really clear of 10 (cents, basis March)," a financial house floor analyst said. Screen business on Monday in the March contract was 31,173 lots at 9:23 am. Open-outcry volume at 9 am was 4,455 lots. Open-outcry volume Monday was 15,561 lots and screen trade hit 87,280 lots, according to exchange data.
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