Raw sugar up on Brazil ethanol import tax.

Raw sugar futures on ICE rallied to a 2-1/2-week high after Brazil confirmed it tax ethanol imports, which could possibly encourage mills to produce less sugar. October raw sugar settled up 0.35 cent, or 2.56 percent, at 14.02 cents per lb, after hitting 14.06 cents, its highest since Aug. 8. The tax raise the price of ethanol against sugar, which could encourage Brazilian mills to switch more production toward the biofuel instead of the sweetener.