Raw sugar futures rose to a near three-month high in early trade on Friday, with firm buying interest triggered by record high crude oil prices, traders said. "Pre- (pit) opening we followed the crude oil market up. Some small stops got touched off before our (floor) opening and there was some spec and fund buying on the opening as well," one floor broker said.
ICE Futures electronic March sugar was up 0.25 cent or 2.5 percent at 10.47 cents per lb, a level last seen August 2 for the spot-month, at 9:08 am EDT (1308 GMT). Trades ranged from 10.28 to 10.48 cents. Thursday's final open-outcry volume was estimated at a light 10,434 lots, while screen trades hit 50,796 lots and total volume was 61,230 lots.