Raw sugar futures relied on trade buying in early dealings Thursday to edge higher, but brokers said fund sales could emerge again to knock the sweetener back during the session. "One of the trade house pushed it back when we got below 10 cents," a long-time floor dealer said, referring to the March contract.
"If they did not show up, we'd be down to 9.70 already. I still think we're going to track lower." ICE Futures electronic March sugar rose 0.09 cent to 10.11 cents per lb at 9:11 am EDT (1311 GMT), trading 9.91 to 10.14 cents. Open-outcry March added 0.10 to 10.12 cents at 9:12 am, moving from 9.98 to 10.14 cents.