NEW YORK/LONDON — Raw sugar futures rose on Friday, boosted by rising crude prices and worries about drought in sugar-producing regions of Asia.
* October raw sugar settled up 0.46 cents, or 4.0% at 11.89. The contract declined 1.3% in the week.
* “Thailand continues to have drought, and now there’s been significant discussion about big downgrades there,” said Shawn Hackett, president of Hackett Financial Advisors in Boca Raton, Florida. “This is the time of year that the market starts reacting to Asian production forecasts.”