Raw sugar futures finished sharply higher on Tuesday on investor buying inspired by crude charging to a new record, but an industry dinner may lead to becalmed dealings tomorrow, brokers said. The key July sugar contract shot up 0.34 cent or 3.0 percent to settle at 11.82 cents per lb, dealing from 11.38 to 11.84 cents.
Volume in the contract amounted to 31,309 lots by 2:16 pm EDT (1816 GMT). Technicians feel support in the July sugar contract would be at 11.25 and 11 cents, with resistance pegged at 12 and 12.50 cents.