Raw sugar futures finished on Tuesday up nearly 4 percent, reversing Monday's losses as funds bought and participants holding short positions grabbed profits in a volatile market, brokers said. The October sugar contract surged to finish up 0.51 cent, or 3.8 percent, at 13.93 cents per lb, moving in a wide range from 13.02 to 14.03 cents.
March gained 0.53 to close at 15.15 cents, trading from 14.25 to 15.23 cents. Volume traded in the October contract was at 60,986 lots at 2:21 pm EDT (1821 GMT). Players holding short positions took profits, providing a market boost, after it closed down 5 percent Monday - traders.
Tropical Storm Edouard plowed into a wildlife refuge on the upper Texas coast early on Tuesday, bringing driving rains and peak winds near 65 mph (100 kmh) but leaving key energy installations mostly unscathed. Market participants were keeping an eye on Edouard and its impact on the energy complex - traders. Total deals done Monday sat at 103,068 lots, down from 162,060 lots previously, exchange data showed. Volume traded Monday in the No 14 sugar market was at 408 lots, exchange data showed.