NEW YORK (Dow Jones) -- The U.S. Department of Agriculture bought sugar from domestic sugar-cane growers in the government's second intervention in the market this month.
The USDA paid $6.87 million for the sugar Tuesday, according to a notice posted on its web site Wednesday. It then exchanged the sugar with domestic refiners for import credits.
The purchase was about a third of what the agency had said it would spend. The USDA said last week that it planned to buy $18.7 million worth of domestic sugar Tuesday, after purchasing $43.8 million worth earlier this month.
The move is the ...