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Rising Copper & Sugar

September 25, 2009 at 22:22 by Vladimir Vyun

Copper advanced as the declining dollar boosted demand for the metal as an alternative investment. Some buyers invest in dollar-based commodities as the currency declines to preserve purchasing power. December futures for copper delivery advanced $0.019 (0.7 percent) to $2.785 per pound by 10:27 on the New York Mercantile Exchange’s Comex division.

Sugar gained for the first time in three days after forecast that global supplies are shrinking because of adverse weather, cutting cane harvests in Brazil and India, the largest producers in the world. The global deficit in the year starting October 1st may reach 8.3 million metric tons up from a June estimate of 5.1 million tons. March futures for raw-sugar delivery gained $0.0025 (1.1 percent) to $0.2317 per pound as of ICE Futures U.S. in New York.

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