Raw sugar futures were firmer in early business Friday on investment fund buying but producers sold the advance when the spot month edged close to the psychological 10 cents level, brokers said.
ICE Futures electronic March sugar contract rose 0.04 cent to 9.92 cents per lb at 9:18 am EST (1418 GMT), moving from 9.89 to 9.95 cents. One contract aside, the rest ranged from 0.02 to 0.06 cent higher. "We had a little bit of fund buying again, but the trade and producers put a lid on it again. It's hard to say if we will have the energy to make a run at 10 (cents) in March again," a trading house floor trader said.
Screen business in the March contract was at 4,884 lots at 9:21 am Open-outcry volume at 9 am was at 1,002 lots. Open-outcry volume Thursday was at 4,771 lots and screen trade hit 54,931 lots, according to exchange data.