Sugar extended gains in the global market on speculation investors have started buying futures after bearish bets reached a record and millers in leading producer Brazil directed more cane to making ethanol. Speculators boosted their net-short position, or bets on lower prices, to a record 121,030 contracts in the week ended June 11,US Commodity Futures Trading Commission data showed. Millers in Brazil's main growing region used 58%ofaJl the cane processed to make ethanol at the expense of sugar in the second half of May.