BLBG: Sugar Rises in New York as Weak Dollar Lifts Commodities Demand
By Ron Day
Nov. 25 (Bloomberg) -- Sugar futures rose for a second day in New York as the weaker U.S. dollar boosted demand for commodities.
The dollar fell against the euro and stock futures surged after the Federal Reserve committed up to $800 billion to unfreeze credit for homebuyers, consumers and small businesses. The Reuters/Jefferies CRB Index of 19 commodities rose, erasing an earlier decline.
Raw-sugar futures for March delivery gained 0.16 cent, or 1.4 percent, to 11.88 cents a pound at 9:07 a.m. on ICE Futures U.S. in New York.
Sugar has declined in each of the past three weeks. Still, the sweetener has rallied 20 percent in the past 12 months through yesterday.
To contact the reporter on this story: Ron Day in New York at rday1@bloomberg.net.