Sugar Extends Gains as a Recent Price Dip Draws in Buyers
Raw sugar climbed for a second day on optimism that recent declines would draw in buyers and stronger crude prices may prompt mills to divert more cane to make ethanol.
The most-active contract rose as much as 0.9% to 16.82 cents per pound, the highest level since June 4. Higher fuel costs can increase demand for ethanol, which is also made from sugar cane in countries like Brazil and India.
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