NEW YORK, April 12 Total open interest in ICE
raw sugar futures <0#SB:> rose to the highest level in almost
five years on April 11, exchange data showed on Friday.
Open interest reached 881,707 contracts on Thursday, the
highest level since June 2008 and up 3,663 lots from the
previous session, according to ICE Futures U.S. data.
Spot-month raw sugar futures on ICE were up 0.26
cent, or 1.46 percent, at 18.10 cents a lb by 10:48 a.m. EDT
(1448 GMT) on Friday, heading for a gain of more than 2 percent
from last week's close.
The contract has been inching up from a more than 2-1/2 year
low of 17.47 cents posted earlier this month. Open interest in
the market has been climbing.
Speculators hold a record bearish bet in raw sugar futures
and options. In the week ended April 2, noncommercial dealers
boosted their net short position by 60 percent to a record
100,669 contracts, according to U.S. Commodity Futures Trading
(Reporting by Chris Prentice; editing by Jim Marshall)