Sugar prices climb after touching their lowest levels in 11 months last week

Sugar prices rise off 11-month lows set last week

NEW YORK — Sugar contracts are bouncing off their lowest levels in nearly a year, giving the market hope that prices may have bottomed after a two-month tumble.

Other commodities are mixed Monday.

Analysts say the sell-off in sugar may have been overdone and prices are starting to look cheap.

The price of May sugar is settling up 0.15 cents at 16.54 cents per pound, having been as high as 17.37 cents earlier in the day.

Sugar hit its lowest price in 11 months last week, and has been steadily falling since hitting a 29-year high in early February.