CSCE raw sugar jumped to its highest price since February 4 on Tuesday, gapping upward at the open but closing well off the peaks in activity dominated by spread trading before March deliveries start next week.
Speculative players rolled long positions out to May before March expires on February 27 to avoid taking physical delivery.
CSCE front-month March settled up 0.10 cent, or 1.8 percent, at 5.58 cents a lb. It opened above its high from Friday before the Presidents Day long holiday weekend, then traded from 5.53 to 5.71 cents.
It set a contract low Thursday at 5.27. May rose 0.16 cent to 5.84, while the rest went up from 0.06 to 0.16 cent.
In US domestic sugar futures, May sugar rose 0.02 to 20.57 cents a lb, while July was flat at 20.62 cents.
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