Sugar Climbs for Third Day in N.Y. as Dollar Sinks, Crude Gains

By Ron Day

Dec. 18 (Bloomberg) -- Sugar increased for a third day, its longest rising streak since late October, as the dollar’s decline boosted demand for U.S. commodities.

The dollar slid for a seventh session against the euro, on speculation that the Federal Reserve’s benchmark interest-rate cut to as little as zero will reduce the appeal of U.S. assets. Crude oil gained in New York in early trading, helping boost demand for ethanol, a fuel made from sugar cane in Brazil.

Raw-sugar futures for March delivery rose 0.03 cent, or 0.3 percent, to 11.76 cents a pound at 9:06 a.m. on ICE Futures U.S. in New York. The price has climbed 1 percent this week.

To contact the reporter on this story: Ron Day in New York at rday1@bloomberg.net.