Raw sugar futures action on ICE Futures US at 8:58 am. EDT 258 GMT: May sugar contract rose 0.13 cent to 12.01 cents per lb. Range 11.82 to 12.05 cents. May contract volume 5,703 lots. Light buying by small investors and switch trade as players move positions out of spot contract, traders said.
Open interest in May contract at 277,602 lots from previous 291,175 lots. Major commodity funds expected to start their own roll since May due to expire on April 30. US sugar production for 2007/08 seen at 12.45 million short tons, from 12.478 million tons, the US Agriculture Department's monthly supply/demand report said. USDA said US sugar imports were pegged at 2.241 million tons, unchanged from last month's forecast.